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Giostar is going to avoid its 1100 employees. The role of these employees was being overlap after the merger of its parent company ViaCom 18 with Walt Disney in November 2024. That is, two people were happening on a position. Therefore, the company has taken this decision.
This information has been given by Mint by quoting sources. According to the report, the initial of the trimming in the company under restructuring after the merger began last month, which may continue till June. The company is eliminating unnecessary roles in distribution, finance, commercial and legal departments.
The company is taking a salary of up to one year
The company is firing the employee with salary ranging from 6 months to 1 year. If an employee joined a year ago, he will get a full salary for one month and according to this, the rest of the employees will also get it. Along with this, a notice period of one to three months will also be available.
Merger in November- The country’s largest entertainment platform became
Disney Star India and Reliance’s VOCOM-18 merger was in November last year. It also includes Disney Hotstar and Jio Cinema. Both these companies announced it on Thursday, 14 November. It has become the largest entertainment network in the country after merger.
Disney-Reliance Entertainment now has 75 crore spectators with 2 overs the top i.e. OTT and 120 channels. Reliance has invested Rs 11,500 crore for this joint venture. The process of merger was going on for the last one year.
Both companies said- ‘This deal has been done for Rs 70,352 crore. Reliance will have 63.16% and Disney’s 36.84% stake in the company formed after the merger. The chairperson of this new company will be Neeta Ambani. Vice Chairperson will be Uday Shankar. These will give strategic guidance to the company.
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Reliance-Dijney’s merger, the country’s largest entertainment platform became: 120 channels, 75 crore spectators with two OTTs; Neeta Ambani will be chairperson
Disney Star India and Reliance’s VOCOM-18 are now united. It also includes Disney Hotstar and Jio Cinema. Both these companies announced it on Thursday, 14 November. After this merger, it has become the largest entertainment network in the country.
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