Comcast Reportedly Plans Significant Cable-Division Job Cuts as Broadband Losses Accelerate

Comcast is reportedly planning significant job cuts in its cable division as the company continues to lose residential broadband and TV customers. Comcast lost 144,000 residential broadband customers in the third quarter of 2026, compared with a loss of 91,000 customers during the same period last year, according to the company’s earnings report.

Comcast has historically benefited from limited competition in the high-speed wired broadband market. It now faces growing pressure from fixed-wireless providers and, in some cable markets, fiber-optic internet providers.

“Fixed wireless remains active and continues to gain share, but fiber construction remains at a high level due to some unreasonable pricing and promotional activity,” Comcast co-CEO Mike Cavanagh said during the company’s financial report.

Comcast Chief Financial Officer Jason Armstrong said fiber operators were offering broadband service for $30 to $40 per month “in certain markets in the third quarter.” He called those prices irrational because fiber-optic installations can cost more than $1,500 per home. Armstrong added that construction becomes more expensive in suburban and rural areas.

“It’s an unreasonable competition for us given the results,” Armstrong said.

Armstrong did not identify specific competitors, but Verizon markets FiOS fiber plans starting at $30 per month. Comcast’s network combines fiber optics and cable, but the company offers fiber-to-the-home service only in a subdivision of its cable footprint.

Comcast customers leave after promotional prices expire

Armstrong said Comcast customers are increasingly leaving when they face a “price transition,” apparently referring to price increases after promotional discounts expire.

“We have refined our offers and retention strategies to better manage these transitions and enhance customer retention,” he said.

Cavanagh said satellite providers are “not yet a significant factor” in the competition Comcast faces. However, he said the company is focused on “anticipating new forms of competition and positioning our business to respond to evolving markets.”

Comcast targets billions in cost savings amid job-cut plans

After declines in recent quarters, Comcast now has 28.3 million residential broadband customers in the United States. The company said it has begun a major effort to reverse the trend.

“We have embarked on the most significant operational and cost transformation in our company’s history, and we believe the opportunity will ultimately amount to billions of dollars over the long term,” Cavanagh said.

Armstrong said the reorganization would result in a “significant charge” of more than $1 billion being applied to Comcast’s fourth-quarter financial results.