With Cablevision and Time Warner Cable both based in the New York area, the impending sale of Cablevision to European communications firm Altice and the sale of Time Warner Cable to Charter Communications, which has just closed, are expected to bring layoffs in New York.
The New York Post quotes a source saying staffers at Time Warner Cable are “being booted and some are being signed by Charter.” The source adds: “People are being phased out, and most people know their fate.”
“Joan Gillman, Time Warner Cable’s executive vice president of media services, sent a blast e-mail on Thursday, saying she’s leaving after the takeover,” the Post reports.
Cablevision’s executive VP of programming, Tom Montemagno, is reportedly among those who will be leaving that company.
“Altice boss Patrick Drahi has promised to wring $900 million in cost savings from Cablevision and Suddenlink, the smaller US cable operator it purchased last year,” the Post reports. “He also singled out Cablevision’s top-paid managers for the chopping block.”