Cable giant Charter is laying off nearly 1,200 employees, source says

Core Viewpoint - Charter Communications is laying off approximately 1,200 employees, which is over 1% of its workforce, to streamline operations, focusing on corporate management roles without affecting sales or service positions [2][3]. Group 1: Layoffs and Workforce Changes - Charter Communications is cutting around 1,200 jobs, primarily in corporate management, as part of an effort to streamline operations [2]. - This move follows similar workforce reductions by other media and cable companies, including Comcast and Paramount Skydance, indicating a trend in the industry [3]. Group 2: Customer Loss and Market Pressure - Charter is experiencing significant pressure from telecom carriers that offer bundled internet and 5G mobile plans, leading to a loss of 117,000 internet customers in Q2 and 60,000 in Q1 [3]. - The company added 500,000 mobile lines in Q2, which was below the expected increase of 538,450 customers [4]. Group 3: Strategic Initiatives - Charter is pursuing a $21.9 billion acquisition of Cox Communications, which would make it the largest cable TV and broadband provider in the U.S. [4]. - The company has announced a partnership with Comcast to create a mobile virtual network operator utilizing T-Mobile's 5G network for wireless business customers, with a commercial launch planned [5].