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Investing.com-- Charter Communications Inc (NASDAQ:CHTR) is laying off about 1,200 employees, or just over 1% of its roughly 95,000-person workforce, as part of efforts to streamline operations, the Wall Street Journal reported on Tuesday, citing a person familiar with the matter.
The job cuts will mainly affect corporate and back-office roles at the cable and broadband giant’s Stamford, Connecticut, headquarters and across the U.S., while sales and service staff will not be impacted, the report said.
Charter joins other major media and cable firms, including Comcast’s NBCUniversal and Paramount Global, in reducing staff as the industry faces subscriber losses and shifting consumer habits.
The company reported a decline of 117,000 broadband customers to 29.9 million in the second quarter, with video subscribers also falling 5% to 12.6 million, according to the report.
Charter is currently pursuing a $21.9 billion acquisition of Cox Cable, the Journal added.