Uday Shankar rules out stake sale, promises no more layoffs at JioStar

MUMBAI: Uday Shankar isn’t going anywhere. That’s according to a report on storyboard18.com. The vice-chairman of JioStar has quashed speculation about selling his stake in India’s rapidly consolidating media behemoth, declaring his commitment runs deeper than mere shareholding. Speaking at a town hall earlier today marking the company’s first anniversary, Shankar delivered an unequivocal message: the restructuring is done, the layoffs are over, and what comes next is a sprint towards global dominance.

“I am not selling off my stakes because my relationship with the family is more than just a shareholder,” Shankar told senior leadership on Wednesday. “This is also because I have promised to build a world-class media and entertainment company in India.”

The remarks come after months of upheaval following the merger of two major entities under the JioStar umbrella—a process that brought painful job cuts and role consolidation. Shankar didn’t dodge the issue. “Personally, I hate the word layoffs but given the size of operation, it was inevitable,” he said. “I assure that there will be no further layoffs but I want to build the company on strength of meritocracy.”

That meritocracy, he insisted, would be the engine of JioStar’s next phase. “We have harmonised all the roles when two big companies join hands. Now we have best of hands at work suitable for their roles,” Shankar said, adding that employees must “challenge the status quo every day.”

The ambition is vast. Shankar wants JioStar to become “a benchmark in media and entertainment globally”—not merely an Indian player but a world-class institution capable of shaping creative industries across borders. To get there, the company aims to become “a magnet to attract best of talent pool available in the country,” he said.

With shareholder stability now assured and the worst of integration behind it, JioStar is betting big on innovation, content and international reach. Year two begins with fewer disruptions and sharper focus. Shankar has made his wager clear: he’s in it for the long haul, and he’s playing to win.