Comcast is cutting thousands of jobs at several of its cable and phone businesses as it tries to cut costs and fend off competitors.
The company’s chief financial officer, Gary Bresch, said Tuesday in a memo to employees that the layoffs were “an opportunity for us to accelerate our focus on business growth and transform our business, to improve our customer experience and provide our customers with better and faster service.”
Bresch also said Comcast’s cable, broadband and phone business will be “replaced by new business opportunities that focus on the Comcast Fiber initiative.”
He did not say how many jobs would be lost.
The announcement comes as Comcast faces pressure to boost its profitability amid the fallout from the data breaches that forced the company to recall customers.
The company has also been hit by a number of other major cyberattacks, including the hack that crippled the credit reporting agency Equifax.