The cable giant is shrinking its hometown headquarters months before it splits off NBCUniversal and Sky, and its core internet business is still losing customers.

Comcast is starting its cost cuts at home. The company plans to lay off 634 employees at its Philadelphia headquarters, effective Dec. 31, according to a notice filed with Pennsylvania regulators and reported by The Philadelphia Inquirer. Further notices cover 119 jobs in New Jersey, 159 in Washington state and 82 in California.

Comcast has not disclosed a company-wide total. Cord Cutters News put the first wave across Pennsylvania, New Jersey and Washington near 1,000 positions. The same filing says the company plans to create more than 1,100 new jobs, including more than 500 in Philadelphia, the Inquirer reported. Engineers, product managers, executive assistants and business analysts are among the roles being cut.

The company’s explanation was short. Comcast is “fundamentally redesigning our organization to build a more agile company,” spokesperson John Demming said. Chief financial officer Jason Armstrong had already told a Goldman Sachs conference in September that Comcast was in “the largest cost transformation in the company’s history.”

The numbers explain the urgency. Comcast lost 144,000 domestic broadband customers in the third quarter, up from 91,000 a year earlier, and shed 274,000 video customers, according to its Oct. 22 earnings release. Revenue fell 6.1% to $29.3 billion, although it rose 0.5% on a pro forma basis that excludes Versant and Sky Germany. Comcast is planning roughly $1 billion in restructuring charges in the fourth quarter, Fierce Network reported, and co-CEO Mike Cavanagh said fiber competition has brought “pockets of irrational pricing and promotional activity.”

There are bright spots. Peacock grew paid subscribers 17% to 48 million, and Comcast added 368,000 wireless lines. The bigger change is structural: Comcast says its plan to spin off NBCUniversal and Sky remains on track to create two independent companies, leaving the cable business to stand on its own. That business is still shrinking. BNP Paribas analyst Sam McHugh expects about 203,000 more broadband losses this quarter, Fierce reported. The layoffs are the easy part. Winning those customers back will be harder.

Sources

• The Philadelphia Inquirer – Comcast layoffs at Philadelphia headquarters (WARN notice), Oct. 30, 2026
• Cord Cutters News – Comcast Has Started Massive Layoffs Ahead of Its Plans to Break the Company Apart
• Comcast via SEC – Third quarter 2026 earnings release (Form 8-K, Exhibit 99.1)
• Fierce Network – Comcast lost 144,000 broadband subs in Q3, telecom analysts are bearish on Q4

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