JioStar (Jio)
The Viacom18-Walt Disney India merger, completed in November 2024, has led to extensive restructuring, with JioStar confirming the dismissal of 1,100 employees. The move is a result of duplications of roles in the newly formed company. Although the company has laid off workers, it has promised affected workers financial assistance, with full pay for 6 to 12 months depending on their experience and performance.
The lay-off process started last month and would go on till June 2025, the insiders said. The company wishes to streamline business by cutting duplicative roles from departments like distribution, finance, commercial, and legal. Authorities made it clear that the initiative is taken for maximizing efficiency within the combined enterprise.
The Viacom18-Disney Star merger has formed India's biggest media and entertainment conglomerate. With a combined portfolio of television channels, streaming services, and exclusive content rights, the joint venture is set to rule the Indian entertainment industry.
In a bid to make the transition smoother for terminated workers, JioStar declared a lucrative exit package. Workers will get 6 to 12 months' salary based on how long they have worked there. For example, one month's pay and a one to three-month notice period will go to those who have worked for one year.
The $8.5 billion deal between Viacom18 and Disney Star has been touted as a game-changer in the Indian media landscape. Through a consolidation of their massive content pools and distribution platforms, the JV plans to go head-to-head with international rivals such as Netflix, Amazon Prime Video, and Sony.
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