JioStar - Business Outrank

JioStar, the DTH service by Reliance Industries' Viacom18 and Disney’s Indian subsidiary, has begun firing more than 1,100 people because there is role duplication. It started cutting staff last month and expects the process to go on until June, affecting distribution, finance, commercial and legal teams. All levels of employees, from entry level staff to senior directors and assistant vice presidents, are affected. However, the sports division is not affected because there is a lot to do before the Champions Trophy, Women’s Premier League (WPL) and Indian Premier League (IPL). A competitor's CEO said he has received CVs from JioStar's employees, who are looking for new jobs with annual salaries of more than ₹1 crore. Nonetheless, JioStar is offering separation packages that vary from six to 12 months' salary, depending on the length of service. Every employee is to receive one month's salary for every year worked, as well as a notice period of up to three months. Only those who have not served for at least five years to qualify for gratuity will have their payments pro-rated. However, some of the employees especially in tech and digital services may be reassigned to other Jio or Reliance groups of companies. JioStar is majority owned by Reliance which valued the company at ₹70,352 crore, while Disney owns 36.84%.

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