Comcast (CMCSA) reported its third-quarter results on Oct. 22, and the financial release showed that its streaming service is flying high. However, the company's broadband losses are broadening.
Ahead of earnings, Bloomberg News also reported that Comcast is planning significant job cuts as part of a wide-ranging restructuring. With the spinoff of NBCUniversal and Sky looming on the horizon, Comcast is evidently taking steps to downsize its workforce in order to free up cash, with the initial round of layoffs expected within weeks. The company is seeking a more efficient, nimble business structure, and the cuts will reportedly happen across its cable-TV, broadband, and wireless businesses.
