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Comcast to cut jobs, streamline Xfinity unit in major reorganization

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Comcast is preparing to cut jobs at its largest business unit, which includes the Xfinity internet, mobile, and pay-TV services, as part of a restructuring to centralize operations and strengthen its broadband business, a source told Reuters.

Beginning in January, Comcast will eliminate a layer of management between its regional offices and corporate headquarters, meaning regional leaders will now report directly to a newly appointed executive overseeing national operations. While the company has not disclosed the number of roles affected, the restructuring is expected to reduce headcount.

In a memo to employees, Comcast said customer-facing teams, such as those in retail and customer service, will not be impacted. “This change is not a reflection of anyone’s contributions — it is about simplifying how we work so we can compete more effectively,” the memo stated.

The move continues Comcast’s long-term strategy of centralizing functions including marketing, legal, and finance. It has also standardized broadband pricing nationally and introduced new five-year price-lock plans to stem customer churn.

The cuts come as Comcast grapples with subscriber losses in its broadband business, facing mounting competition from wireless carriers such as AT&T, T-Mobile, and Verizon. The unit also oversees Sky, Comcast’s European brand, and remains central to the company’s connectivity strategy.

Peloton Announces Job Cuts and Strong 2026 Revenue Forecast, Shares Jump Over 11%

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Peloton Interactive has announced plans to cut 6% of its global workforce as part of ongoing cost-saving measures amid its turnaround effort. The exercise bike maker also forecasted its 2026 revenue to exceed expectations, contributing to an 11% rise in its shares.

The company reported a surprise profit in the fourth quarter, posting 5 cents per share compared to analysts’ predicted loss of 6 cents. Quarterly revenue reached $606.9 million, surpassing the anticipated $579.8 million.

Peloton’s CEO, Peter Stern, who joined in January from Ford Motor, initiated the turnaround after a sales slump of the company’s high-end bikes and treadmills following the COVID lockdown surge. The company’s efforts have already reduced operating expenses by 20% and general and administrative expenses by 33% year-over-year.

To offset rising costs from tariffs imposed by the Trump administration, Peloton plans to “adjust prices.” These tariffs are expected to reduce its 2026 free cash flow by $65 million. Additionally, planned layoffs, office relocations, and indirect cost reductions are projected to save an extra $100 million by the end of the next fiscal year. About half of these savings have already been realized through workforce reductions.

Peloton forecasted 2026 revenue between $2.4 billion and $2.5 billion, surpassing analyst estimates of $2.41 billion. The gross margin on its connected fitness products increased by 9 percentage points to 17.3%, with gross profit nearly doubling to $34.4 million.

Indeed, Glassdoor to Cut 1,300 Jobs Amid AI Shift, Memo Reveals

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Recruit Holdings, the Japanese parent company of job sites Indeed and Glassdoor, plans to reduce its workforce by approximately 1,300 employees as part of a strategic shift toward artificial intelligence, according to a memo reviewed by Reuters on Thursday. This reduction amounts to around 6% of its HR technology segment staff and primarily affects the U.S. market, targeting roles in research and development, growth, and people and sustainability teams. However, the layoffs will impact multiple functions across several countries.

While the company did not state a specific reason for the job cuts, CEO Hisayuki “Deko” Idekoba emphasized the transformative impact of AI, saying, “AI is changing the world, and we must adapt by ensuring our product delivers truly great experiences for job seekers and employers.”

This move aligns with a broader trend among U.S. technology companies, including Meta and Microsoft, which have recently announced workforce reductions to focus on AI initiatives while managing slower economic growth.

In addition, Recruit plans to merge Glassdoor’s operations into Indeed. As part of this restructuring, Glassdoor CEO Christian Sutherland-Wong will step down effective October 1. LaFawn Davis, Indeed’s chief people and sustainability officer, will also leave on September 1, with Ayano Senaha, Recruit’s chief operating officer, succeeding her.

Recruit acquired Indeed in 2012 and Glassdoor in 2018 and currently employs around 20,000 people in its HR technology division. Earlier in 2024, Indeed revealed plans to cut 1,000 positions, following a previous reduction of approximately 2,200 jobs announced a year prior, which represented 15% of its staff.