Charter Communications is implementing a significant $2 billion cost-cutting initiative over the next 18 months to address recent broadband customer declines. The company is undergoing a broad operational transition aimed at improving customer retention and streamlining its business. These savings will reportedly come from a "bottoms-up plan" and organizational restructuring, including reducing management layers. While specific layoff numbers were not disclosed, the CEO indicated that cost-cutting would not target frontline service and sales employees. The company's new Chief Operating Officer will lead this strategic transformation to return to growth in its core internet business.
Stamford, Connecticut
https://www.fierce-network.com/broadband/charter-transform-company-bottom-2b-cost-cuts