New Delhi: JioStar, the newly-formed joint venture between Reliance Industries’ Viacom18 and Disney’s India unit, will eliminate over 1,000 jobs as part of restructuring.
Around 1,100 employees are being laid off to eliminate duplicate positions within the company. The layoffs, which began last month, are expected to continue until June 2025, impacting corporate roles across departments such as distribution, finance, commercial, and legal teams.
According to a report in the Mint, employees across the board, from entry-level staff to senior managers, directors, and assistant vice presidents, will be affected.
The company is providing a “generous severance” package to employees affected by the layoffs. The compensation includes a payout of six to 12 months’ salary, based on the employee’s tenure. Additionally, affected employees will receive one month’s full salary for each year they have worked at the company, along with a notice period ranging from one to three months.
Some affected employees, especially those from tech and digital services, may be given job opportunities within Jio or other Reliance Group companies.
Staff reductions have significantly affected regional entertainment channels like Colors Kannada and Colors Bangla, with more layoffs expected in the coming months.
However, the sports division, including major events like the Champions Trophy, Women’s Premier League (WPL), and Indian Premier League (IPL), has not been affected so far.
The company also plans to expand its sports portfolio by launching new channels.
The layoffs aim to remove overlapping roles, streamline operations, reduce costs, and focus on key growth areas like sports.
The Reliance-Disney merger has created India’s largest media company, valued at Rs 70,352 crore, which aims to compete with Netflix and Amazon Prime Video while expanding its TV business. Reliance Industries holds a majority stake through Viacom18, with Disney owning 36.84%. JioStar’s portfolio includes TV channels like Colors, Star Plus, Star Gold, and Star Sports, along with the JioHotstar streaming platform, targeting over a billion viewers in India.
