Dave Watson is stepping down (yay!) and will become vice chairman.
Steve Croney (why?) is replacing Dave Watson.
Pretty sure if you want to change the trajectory of the company, stop hemorrhaging subscribers, and increase revenue, you shouldn’t promote someone who has been a leader during the hardship times.
Guess more layoffs beyond the latest announcement is in our future for 2026.
The joke will be on us in 2026. Get you finances in line before the sharpened ax falls.
Leadership needs to be changed. The change to Croney is a good thing. CONNECT leaders need to be changed as they are rooted in the past. There are ethical challenges and nepotism at the level of Elads SLT. The decisions seem to be driven by who is more liked not who is the best leader for the future.
@21h ok cr------d..I'll check out Mickey Dees when I get laid off from Comcast on the next round. Meanwhile go ahead and contact your local politicians and see where that gets you. Lol keep smoking!
@1sr then stop complaining and go work at McDonalds. Good luck!
@1r5 .. “contact your elected officials and tell your friends and family to do the same….”
Tell them to do what exactly??? To help save my job at Comcast??? That is the funniest thing I’ve read on this thread. Damn politicians can’t even get the government paid let alone helping us save our jobs at Comcast. Lay off the pipe!
@1n6 contact your elected officials and tell friends and family to do the same. They are the only people who have any motivation to help you.
@1n6 take the bird in the hand for now, but your competition is already actively searching for better opportunities.
@1eq Where should we go, exactly???? You have a job for us???? Everyone is downsizing right now. Those of us who made it through round 1 of the layoffs knows that others are coming, but we're gonna have to weather the storm until something better comes along. It's not like there's a lot of other options right now.
Agreed. If you're still employed by Comcast GET OUT NOW!
@1bp Five-star take. Unbelievable they’ve elevated Croney and kept DW around. Collapsing the org structure is only the latest of layoffs and changes to come.
@OP
Let me see if I got this right:
Dave Watson has served as CEO of the Cable Division since April 2017. During his tenure, the company has experienced a significant decline in its Video and Voice customer base, losing nearly two-thirds of these subscribers. While the internet business initially grew, it is now facing substantial challenges, with a loss of nearly 1 million customers this year. The company’s stock is currently lower than it was a decade ago.
Growth in Comcast Business has largely stagnated, with most of the expansion driven by acquisitions and price increases rather than organic growth; in fact, the division is experiencing a net loss of business customers. Attempts to launch new products have all failed. Only exception is Xfinity Mobile, but that is a “me-too” product with very low margins - and no meaningful profit in sight.
The company’s divisional structure has remained largely unchanged for too long, contributing to high operational costs that reduce competitiveness. Recent cost-cutting efforts are way too late and too small - much more must be cut (yes, expect many more layoffs).
The internal leadership are celebrating their achievements, but those are often meaningless "innovations" that doesn't move the needle. The market reflects a very different reality. The stock’s current valuation around $27 is indicative of these systemic challenges. The company faces significant headwinds, and its traditional cable business increasingly resembles a declining legacy service. (NBC Universal is equally bad, but that's for another post...).
For this "excellent leadership" - Dave is rewarded a seat at the Board?
Steve Croney (who was CFO and then COO) is rewarded the Cable-CEO job?.
Mike Cavanagh move up to be CEO for the entire company (seems like a smart guy - but what exactly has he done?).
Nope - no new blood needed. They all celebrate themselves for "job well done"... ;-)
If you work there - time to wake up and see the reality. If you haven't done it yet, start refresh your resume and LinkedIn... you will need it soon.
@11c Congrats on landing that new gig! Sounds like you made the right move with that offer. Wishing you all the best in your new role.
@wm Good luck. I had a few internal interview processes happening but there was an incredible amount of competition, so when an external company sent me an offer for solid pay I accepted.
@t9 Totally understand where you're coming from, I'm actually an internal employee whose current role is being eliminated as part of the restructure. So this interview was more than just a career move—it’s a lifeline. I know nothing’s guaranteed, but the conversation went really well and I’m cautiously optimistic. If the offer comes through and the pay is stable, I’ll be grateful to stay employed and avoid the external job market for now. Wishing you strength as you navigate your situation. It’s a tough time for many of us.
@sc bold of you to assume you won’t immediately be a part of the next round of layoffs after your onboarding process. Several of us are new hires but already being laid off.
Had an interview for an analyst internal role on the CB side Friday and it went extremely well. Very likely will hear back from the recruiter and/or hiring manager this week with an offer. Probably more of a lateral move from my current position, but as long as my pay is relatively the same and I don’t have to deal with this bleak job market, I’ll be happy.
@bg the only idea they have is to send it all offshore. Not fix anything.
They will collect at Go and send us to Jail.
If you’re an employee, start making your arrangements, won’t be long now.
RIP Comcast. Shuffling around the same old executives who didn’t deliver before but think a new title will somehow change the outcome. Nothing interesting for shareholders or customers. They’re trying to create a mirage of change and transformation when there is none. Customers are overpaying, innovation is dead, and leadership is out of ideas.
We need a full reboot, but there’s no one left with the ____s to do it.
Stock down over 30% this year. Keep execs and shuffle them around. Great plan!!!
@aa holy cr-p lol. I'm glad I never did the stock purchase program. There will be more layoffs coming in 2026, get out if you can.
They just shuffle the same 5 people into different c suite positions and act like that is going to change anything
stock market is loving it