Mike Cavanagh

Stories

Comcast cuts Philadelphia and New Jersey jobs in restructuring push

Leading the restructuring and NBCUniversal spinoff

Comcast will cut 634 jobs in Philadelphia and 119 in New Jersey. The Philadelphia layoffs run from Dec. 31, 2026 through the end of 2027, and the New Jersey cuts, spread across nine counties, take effect in late January. Notices in Washington and California bring the four-state total to 994.

Updated Oct 31

Comcast completes the Versant spinoff: CNBC, MS NOW and USA get a new public home

Money Moves

Public face of the operational rationale for the split

The divorce is final. Comcast completed the pro rata distribution of Versant Media Group shares on January 2, 2026; on January 5, the new company began regular-way trading on Nasdaq under ticker VSNT.

Updated Oct 26

Notable Quotes

We’ve embarked on the most significant operating and cost transformation in our company’s history, with an opportunity we believe will ultimately amount to billions of dollars over time.

from Comcast cuts Philadelphia and New Jersey jobs in restructuring push · Updated Oct 31

To create a more agile, efficient organization that can compete more effectively and invest more decisively in growth.

from Comcast cuts Philadelphia and New Jersey jobs in restructuring push · Updated Oct 31

“This transaction positions both SpinCo and NBCUniversal to play offense in a changing media landscape.” — Mike Cavanagh, Comcast spinoff announcement

from Comcast completes the Versant spinoff: CNBC, MS NOW and USA get a new public home · Updated Oct 26