Comcast to cut 4 million jobs by 2020
By RICHARD KIMSTEINAssociated PressThe world’s largest cable operator plans to slash 4 million employees by 2020, including 1 million in the U.S.
The announcement comes as the Federal Communications Commission prepares to approve the controversial merger of Time Warner Cable with Comcast, and amid criticism that Comcast is unfairly paying executives hundreds of thousands of dollars more than rivals.
Under the proposed merger, Comcast would own the NBCUniversal and CBS Corp. stations.
The company would merge with NBCUniversal in 2019, merging the two biggest U.K. media companies into a single unit.
It also would combine the NBCU with Warner Bros. in 2020.
The combined entity would include NBC, CNN, MSNBC, Disney and Lucasfilm.