Comcast will record a $1 billion charge in the fourth quarter tied to layoffs and a restructuring of its broadband, pay-TV and wireless operations, as the company confronts pressure on its core connectivity business.
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Who eats the billion this time?
A billion-dollar charge for discovering that customers flee when you charge more for worse service. Genius. None of this was a mystery — the price hikes, the vanishing retention, the debt-fueled dealmaking. Anyone with a router saw it coming years ago. Comcast keeps rediscovering gravity, then bills shareholders for the physics lesson. Wake me when someone calls it a strategy instead of a surprise.
Another billion-dollar charge and the layoffs land on the people who keep the cable running, while the execs get a golden parachute and a fresh buzzword. Same old story, just with a bigger number.
