Sony India's Organizational Rejig Fuels Layoff Speculation | Quick Digest
Sony Pictures Networks India (SPNI) is reportedly planning an organizational restructuring this month, potentially affecting 120-200 roles. This move, part of a cost-cutting exercise, comes amid a challenging advertising environment. While SPNI disputes specific layoff figures, it has not denied the restructuring plans.
Sony Pictures Networks India plans an organizational rejig.
Up to 120 to 200 roles could be impacted across various departments.
Restructuring is driven by cost rationalization and challenging ad market.
SPNI confirms restructuring but calls layoff numbers 'speculative'.
Key leadership exits precede this organizational overhaul.
Boston Consulting Group is conducting an internal audit of operations.
Sony Pictures Networks India (SPNI), now known as Culver Max Entertainment, is reportedly gearing up for a significant organizational restructuring expected to be announced this month. Multiple sources indicate that this plan could lead to the reduction of approximately 120 to 200 roles across various departments as part of a broader cost rationalization exercise. The move is attributed to a challenging advertising environment and a need to streamline operations and improve efficiency.
While the Exchange4Media article highlights a 'layoff buzz' impacting 180 to 200 roles, or potentially around 150 employees (10% of SPNI's estimated 1,200 workforce), SPNI has officially stated that these specific figures are 'speculative and baseless.' However, the broadcaster did not deny the overall development of a restructuring initiative. Credible reports from Storyboard18 corroborate this, stating that Culver Max Entertainment is set to reduce its workforce by about 10%, impacting around 120 employees, with implementation likely from the next financial year. This restructuring follows a comprehensive internal audit of SPNI's television and digital operations conducted by global consultancy Boston Consulting Group (BCG), initiated under the new CEO and Managing Director, Gaurav Banerjee. The company has also witnessed several key leadership exits in the past year, including Danish Khan, Business Head of SonyLIV, and Tushar Shah, CMO and Business Head, signaling a period of significant internal change. This current restructuring in India is distinct from earlier global layoffs announced by Sony's PlayStation division in February 2024, which affected approximately 900 employees worldwide.
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