New Delhi: Top companies around the world are firing employees, and now Reliance Industries' company JioStar is also going to lay off around 1,100 employees from the company. This decision has come after the merger of Viacom18 and Walt Disney in November 2024.
Employees of These Sectors May Lose Their Jobs (JioHotstar Job Cutoff)
According to a report by Mint, this layoff process started a month ago and may continue until June 2025. After the Jio-Disney merger, there are two employees for the same position, which is why the company is now taking this step. The major layoffs will take place in some key corporate sectors, including:
- Finance
- Marketing
- Commercial
- Legal sectors
The company believes that reducing duplicate job roles after the merger will help in cost-cutting and streamlining operations.
Employees Will Get This Much Salary (JioStar Job Layoffs News)
JioStar has announced that it will offer a 'Generous Severance Package' to all the employees who will be laid off from their jobs. Additionally, 6 to 12 months' salary will be given to the employees based on their tenure in the company. The breakup is as follows:
- Employees who have worked for less than a year: 1-month salary + 1 to 3 months' notice period.
- Employees who have worked for less than six years: at least seven months of salary, including the notice period.
- Employees working for a long time (above 6 years): up to 15 months' salary as compensation.
This severance package is being considered as one of the largest compensation benefits offered by any company during layoffs.
Gratuity and Other Benefits Will Also Be Given
The company has also assured that employees who are eligible for gratuity but have not completed five years will also get a pro-rata gratuity payout. This will ensure that no employee loses out on their financial benefits due to sudden layoffs.
Moreover, some of the affected employees, especially those working in tech and digital services, will be offered new job roles in the Jio or Reliance ecosystem. This will help minimize the impact of job losses.
Job Cuts Expected to Continue (JioStar Merger Effect)
However, the layoffs are expected to continue till June 2025, especially in regions where operations have significantly overlapped. According to Mint's report, regional entertainment channels such as:
- Colors Kannada
- Colors Bangla
have been greatly affected after the merger. This has resulted in a significant reduction in workforce and cost-cutting measures in these sectors.
Moreover, sports events like the:
- Champions Trophy
- Women's Premier League (WPL)
- Indian Premier League (IPL)
are lined up one after another, so the company is re-aligning its workforce to focus on digital sports broadcasting under JioCinema. However, the regional entertainment workforce is being significantly impacted.
JioHotstar Became the Largest Entertainment Network
It is worth noting that on November 14, 2024, Disney Star India and Reliance Viacom18 officially announced their merger. Under this merger,
- Disney+ Hotstar
- Jio Cinema
came together to form the largest entertainment network in India. However, after the merger, the consolidation of roles became necessary, which has now resulted in mass layoffs.
Discussion (0)
Leave A Reply
Speak Truth To PowerModerated by Times Indian