Comcast Stock (NASDAQ:CMCSA) Slips as Job Cuts are Inbound
Comcast (NASDAQ:CMCSA) is set to reduce its workforce in early 2025, following a memo indicating a restructuring that will eliminate a layer between corporate and regional offices, primarily affecting back-office staff. This comes after the company lost 226,000 internet customers in Q2 2025. Despite the layoffs, Comcast appointed Mike Cavanagh as co-CEO alongside Brian Roberts. Analysts have a Moderate Buy consensus on CMCSA stock, with a price target of $40.50, suggesting a potential upside of 28.65% after a 24.06% decline in the past year.
At the end of 2024, reports note, Comcast had about 182,000 employees to its credit. But new reports suggest that, early next year, there will likely be substantially fewer. A memo came around that noted that starting in January, the company "…will remove a layer between its corporate and regional offices."
The memo seemed to specifically exempt customer service and retail positions, which is interesting, and suggests that these cuts will be coming more for back-office staff than for customer-facing positions. With Comcast recently revealing that it lost around 226,000 internet customers in the second quarter of 2025, and recently launching several moves designed to retain customers, it is little surprise that Comcast may want to protect its position.
One New Hire, Anyway
As Comcast prepares to cut a lot of employees loose, it brought on one major new hire: Mike Cavanagh. Cavanagh will be co-CEO of Comcast alongside Brian Roberts. Cavanagh has been in charge of the television, film and theme park operations for some time now, and also worked on the spinout of Comcast's cable networks.
Roberts, meanwhile, offered up a statement about Cavanagh's new position, noting, "He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company. Mike and I work seamlessly together, and I am thrilled to be partnering with him as Co-CEO and with the rest of our talented management team, for years to come."
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on eight Buys, nine Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 24.06% loss in its share price over the past year, the average CMCSA price target of $40.50 per share implies 28.65% upside potential.
