Thread regarding Comcast layoffs

@gr when they blew up the Celona org they did it during SCTE. I survived that one too.

@bq six layers is nigh impossible. Angelakis to Croney to any Croney direct is 3 layers alone. call agent to supervisor to supe’s manager is 3 more. They aren’t getting rid of everything in between. Even starting from Croney is still near impossible. If they’re lucky they will get to 8 layers. And if they don’t lay off at the SVP and VP levels then this exercise if pointless.

@rz i think he is referring to Jason armstrong recently telling wall street that $ BIllions of cost cutting is coming

@my who was this notice given to?

I hope the best for Angelakis in his transformation. Just keep in mind he just gave notice to everyone they should get out before they might get cut. And who will leave first? The cream, because they are most able to. He may find himself with the 60% of remaining employees he wants in order to cut cost. However that might just be a big pot of B players, since the A players will have since jumped ship. Good luck.

@ds My assumption is that Comcast will wait until SCTE is over, and then we will hear about layoffs. My guess would be 2nd week of October comms, and then onward to prep for Q3 readout to investors. Either this is a setup to model the company for buy-out or it evolves into a "technology company".

@ds Comcast is an abusive culture they roll out buyouts on a whim without proper notice always threaten it may be the last one.You have a life changing decision to make in a couple weeks which isn’t time to prepare.

@dk No kidding. Armstrong says Comcast has engaged in the largest transformation in company history and over a week later nothing. Damn frustrating for employees. Clock is ticking. Has to be in the next two weeks. Please, put us out of our misery. Pay us to leave and happily we will go!

When exactly?

I no longer work there (thankfully) but good grief was there an absurd amount of upper middle management bloat while I was at HQ. So many exec directors and VPs who had no business managing a team of direct reports, much less entire orgs. I don’t even want to know how much McKinsey is billing them to point out problems that have been obvious to employees for years, they just didn’t want to listen.

I’d start interviewing if I were anyone listening. I have been interviewing since the beginning of the month. Companies don’t give a fu-k about you, so why would you give a fu-k about them?

@c2 so they will get a chance to talk about it again to the Street (earnings call Oct 22) before giving clear answer to employees. Got it.

We heard around end of October but no true clarification from senior leaders... I've lost total faith in the leadership and can only think of this as a sinking ship. Get out if you can.

@bq Nice job, ChatGPT.

@bq after reading this thread, I think we can all conclude burnout is already happening at high levels after the last round of layoffs.

Since executive leadership can’t seem to speak clearly about this—at least not in public forums—let me state it plainly here:

1. Residential broadband losses are accelerating. They are not stabilizing or slowing down. The core broadband business is getting worse.

2. Cable TV and Voice are already in a death spiral. The revenue decline from these businesses is significant, structural, and will remain a serious headwind for years. These are not temporary declines that will eventually stabilize—they are shrinking businesses, and that lost revenue has to be replaced somewhere else.

3. Comcast Business is also losing SMB customers at an accelerating rate. The company stopped reporting this metric separately this year, which says a lot by itself. SMB losses will drag on Comcast Business growth, and winning larger customers will not be enough to fully offset that decline. Revenue will be flat at best and could decline next year.

4. Nearly every major line of business outside of Wireless is in decline. The company cannot solve this with another round of small, incremental cuts. It needs a fundamental restructuring of how it operates. That means serious downsizing, major consolidation, and cuts far deeper than anything employees have seen over the last several years.

5. McKinsey is helping flatten the organization, with a target of no more than six layers. That means massive leadership cuts and the elimination of entire management layers. Middle management will be hit especially hard. The leaders who remain will be expected to manage 8–10 direct reports, if not more.

6. The real question is whether leadership is actually willing to eliminate entire departments, ki-l major projects, and stop work that no longer makes sense. Or will they cut thousands of people and still expect the company to operate exactly as it does today?

If the strategy is simply fewer people doing the same amount of work, then this is not a transformation. It is a setup for burnout, execution failures, and further decline.

@ay the sooner the better instead of waiting until one week before thanksgiving making it near impossible to job search because of holidays and hiring slowing at year end

@OP heard it’s starting this week.. Not sure how true that is, but that’s just what I heard.