Comcast plans massive layoffs to pave the way for independent operations after NBC's spin-off

The Zhitong Finance App learned that Comcast is planning large-scale layoffs as part of a comprehensive restructuring of its cable, broadband and wireless business, according to people familiar with the matter. The person mentioned above, who requested anonymity because plans have not been disclosed, said that the purpose of this restructuring is to allow Comcast to operate as an independent company after splitting the NBCUniversal business next year. Layoffs may begin to be announced in the coming weeks, with the goal of creating a leaner workforce, freeing up cash to invest in more growth opportunities, and other long-term goals.

The Philadelphia-based media and telecommunications group has been losing cable subscribers for some time, as users cut cable and switched to streaming options. Recently, Comcast is also losing internet users, and competitors such as AT&T, T-Mobile, and Verizon are introducing attractively priced optical or fixed wireless connections.

The urgency of this restructuring stems from Comcast's upcoming structural split. The company announced in June 2026 that it plans to complete the duty-free spin-off of NBCUniversal and Sky in mid-2027. The media assets after the spin-off will cover NBC, Universal Pictures, Peacock, theme parks, and Sky. The current co-CEO Mike Cavanagh will be the CEO of the company after the spin-off; while the connectivity business (cable TV, broadband, wireless) retaining the Comcast name will be led by returning former CFO Michael Angelakis.

Comcast has been promoting broadband by offering a five-year price guarantee and a one-year free wireless line. The company will release financial results on Thursday.

Comcast has adjusted its business portfolio to boost share prices, and the stock is down about 21% this year. Cable networks such as CNBC and MS Now split into Versant Media Group in January.

Co-CEO Brian Roberts has made adjustments to senior management to deal with the loss of subscribers. He promoted Steve Croney to CEO of the broadband and wireless business and hired former Apple and DirecTV executive Jon Gieselman as chief growth officer.

Former CFO Michael Angelakis will return to lead Comcast after NBC's spin-off.

As of December 31, 2025, the company had 179,000 full and part-time employees.