Comcast expects to record more than $1 billion in restructuring charges in the fourth quarter as it changes its organisational structure ahead of the planned separation of NBCUniversal in mid-2027, Reuters reported on October 22.
Co-chief executive Mike Cavanagh told analysts the company was redesigning decision-making, resource allocation and operations to improve efficiency, according to The Wall Street Journal.
The announcement followed Bloomberg reporting, carried by Reuters, that Comcast planned significant job cuts across its cable television, broadband and wireless businesses. That report cited people familiar with the plans; it did not establish a verified total of positions affected.
Comcast’s quarterly disclosure showed revenue of $29.3 billion, down 6.1% from a year earlier, and net income attributable to the company of $3.45 billion. Peacock had 48 million paid subscribers and generated $261 million in adjusted earnings before interest, taxes, depreciation and amortisation.
The expected restructuring charge concerns the coming quarter. The proposed NBCUniversal separation remains a future transaction.
