Comcast Plans $1B+ Restructuring, Massive Layoffs as It Loses Broadband Customers

Comcast, one of the largest US telecommunications and media companies, is restructuring its core cable division as customer losses accelerate in residential broadband—a historically stable revenue source. The company lost 144,000 broadband customers in Q3 2026 vs. 91,000 a year earlier, driven by fiber and fixed wireless operators undercutting prices. The planned spin-off of NBCUniversal and Sky will separate media and entertainment assets from connectivity operations, affecting approximately 179,000 employees as of end-2025. Management is betting on wireless growth (368,000 net additions in Q3), AI-driven cost reduction (20% contact reduction already achieved), and business services to offset broadband decline. Q3 free cash flow declined 14.8% year-over-year; the measure of restructuring success will be whether cost cuts and new business segments restore profitability and cash generation by late 2027.