Universal Orlando and Universal’s other theme parks continued to improve parent company Comcast’s earnings last quarter, but a top executive on Thursday nonetheless raised the possibility of layoffs and other cost-cutting across the company in preparation for a potential recession next year.
“As we enter the fourth quarter and look to our year ahead, we remain focused on driving long-term growth during an increasingly challenged economic environment,” Comcast President and CFO Mike Cavanagh said during a third-quarter earnings call Thursday.
“As a result, we expect we will be taking severance and other cost reduction-related charges in the fourth quarter in anticipation of expense reduction actions that will provide benefits in 2023 and beyond,” he continued.
