Abstract. We prove that the absolutely continuous part of the periodic Jacobi operator does not change (modulo unitary equivalence) under additive perturbations by compact Jacobi operators with weights and diagonals defined in terms of the Stolz classes of slowly oscillating sequences. This result substantially generalizes many previous results, e.g., the one which can be obtained directly by the abstract trace class perturbation theorem of Kato-Rosenblum. It also generalizes several results concerning perturbations of the discrete (free or periodic) Schrödinger operator. The paper concerns "one-sided" Jacobi operators (i.e. in l 2 (N)) and is based on the method of subordinacy. We provide some spectral results for the unperturbed, periodic case, and also an appendix containing some subordination theory tools. 0. Introduction. Searching for perturbations of a specific "unperturbed" operator which preserve a certain spectral property of that operator is a popular kind of problem in spectral analysis. In this paper, we consider periodic Jacobi operators in l 2 (N) as unperturbed operators, and we perturb them by adding other Jacobi operators. The main spectral properties studied relate to the absolutely continuous part of the operator.Similar problems concerning perturbations of the free or periodic discrete Schrödinger operator (DSO) in l 2 (N) or l 2 (Z) by diagonal operators have been studied in many papers (see e.g. [2-4, 13-17, 21-23]; see also the introduction and references to [17]).A famous abstract result on stability of the absolutely continuous part of an operator under perturbations is the Kato-Rosenblum theorem (see e.g. [20]). It states that the absolutely continuous parts of a self-adjoint operator and of its perturbation by an arbitrary trace class operator are unitarily equivalent. Obviously, this theorem can be directly applied to perturbations by any Jacobi operators with weights α = {α n } n≥1 and diagonals β = 2000 Mathematics Subject Classification: 47B36, 47B39, 47B25, 47A55, 47A10, 39A11.