Charter Targets Two Billion in Cost Savings
Charter Communications plans to cut two billion dollars in operating costs over the next eighteen months to revive growth. The company reported a third quarter net loss and revenue below analyst estimates.
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Charter Communications will cut $2B in annualized operating costs over the next 18 months, targeting a return to growth. Shares of the broadband operator fell 5% in premarket trading on Friday morning. The cost overhaul comes as the company faces mounting subscriber losses and fierce competition from streaming and wireless rivals.
