Goldman gets the cost transformation story. Employees get rumors, town halls after the fact, and weeks of uncertainty. If the reorg and fte reductions are material enough to discuss with investors, why is the internal comunication always behind? It's all about basic transparency before people start reverse engineering their own future.
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@km Calling someone “genius” and telling them to “use their brain” doesn’t make the argument any stronger. Obviously it was a public conference. That’s actually the point. Senior leadership was comfortable discussing significant workforce reductions with Wall Street while their own employees had received little to no communication about what was happening. Nobody is suggesting they should have announced names or specific layoffs beforehand. There is a lot of room between that and employees learning about major decisions affecting their company through an investor conference. Employees expecting basic communication from leadership before hearing it from Wall Street isn’t ignorance. It’s a pretty reasonable expectation.
hey genius, it was a public conference. anyone could have joined it.
What did you want Armstrong to say before the conference? Host a town hall saying "hey we're going to lay off 15k of you in 4 weeks, just hang tight while we decide who".
use your brain
@dz new blood. Boomers also need to retire. It’s time.
Zero stock price growth since 2013, while SP500 went up 500% tells you at the leadership level, this company has serious problems. Management has been sleep at the wheel. Can you trust, either as an employee or an investor, that driver to take you to the AI era or do you need new blood ?
@OP yeah but did Comcast update Wall Street on the new window blinds - installed in every window in HQ1 - they seemingly spent tens of millions of dollars on over the summer? New window blinds, mind you, that look and operate EXACTLY the same as the old ones. Surely this was the crown jewel of Croney’s impressively disastrous tenure as CEO
@cs the "solid businesses" make way less money than the "losing" cable side. The Odyssey has made $1.5B and took years to make. Cable brings in that much money weekly.
@ab note that those solid businesses you mention (Universal, parks, Peacock, NBC) are the ones spinning-off. Maybe the lucky ones are going with them. What’s remains seems to be heading in one direction… down.
Because the c-suite cares about Wall St.
Comcast used to be seen as a strong grwth company because its internet business kept adding customers and charging more, even while traditional cable TV was slowly declining. That changed. Quite a bit... Cable TV losses accelerated, and now Comcast is also losing some broadband customers because fiber and wireless internet from companies like VZ and TMobile have become real competitors. All investors now worry that Comcast's most important business may be shrinking. The stock price suffers.
We still make a lot of money and own solid businesses like Universal Studios, theme parks, Peacock/NBC... Wireless is growing. But stocks are priced mainly on what investors think profits will look like in the future, not just what the co earns today. Plus: Comcast also has a lot of debt and made some stupid and expensive acquisitions, so investors have become cautious. That is why the stock is down.
@OP when the stock price hits levels not seen since 2013 and the outlook keeps getting worse with things like $18 price targets from KeyBanc, for example, you can understand the pressure to assuage investors.
https://www.schaeffersresearch.com/content/news/2026/09/25/downgrade-price-target-cuts-drag-struggling-comcast-shares
whisper strategy to wall street. no whispering for employees, just surprises