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Time Warner, Cablevision Employees Brace For Layoffs After Takeovers

Patrick Drahi of Altice is expected to make big changes once he takes over Cablevison Systems.
Patrick Drahi of Altice is expected to make big changes once he takes over Cablevison Systems. Photo Credit: Wikipedia
Time Warner Cable and Cablevision employees are expecting layoffs after the two companies were taken over recently.
Time Warner Cable and Cablevision employees are expecting layoffs after the two companies were taken over recently. Photo Credit: Wikipedia.org

After both companies were part of recent takeovers, Time Warner Cable and Cablevision employees are expecting layoffs over the next few months, according to the New York Post.

Cablevision agreed to deal to be purchased by European communications company Altice that is expected to be finalized within a month, and Charter Communications purchased Time Warner Cable, the Post said.

Executive vice presidents from both companies are expected to exit as new management looks to cut costs, reported the New York Post.

Altice and Charter are looking to find $900 million and $400 million respectively in cost savings, the Post noted.

Read the New York Post article here.

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