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Tag: jobs

  • NDTV ends all pay cuts

    NDTV ends all pay cuts

    NEW DELHI: It seems that the media industry is on the fast track to recovery as companies have started rolling back pay cuts, passing on the arrears and some have even promised to kickstart appraisal process for employees.

    In the latest development, NDTV has announced that it has ended all pay cuts for staff. After a careful review of its business, the company has decided that effective 1 October 2020, salary cuts will end for those employees who were impacted by a 20-40 per cent cut. It mentioned that all pay cuts stand reversed, effective 1 October and arrears for the month of October will be paid before Diwali.

    These pay cuts were introduced on 1 April this year on account of the economic uncertainty caused by the Covid2019 pandemic. Salaries were slashed by 10-40 per cent on a graded scale based on different slabs. Employees earning Rs 50,000 per month or less were exempted from any pay cut.

    NDTV expressed its gratitude to all its employees for their unwavering support and the senior staff for ensuring that junior colleagues were protected through the manner in which pay cuts were introduced and then removed.

    In the last fortnight, several media organizations are making the effort to return to normal such as Network18, Indian Express, India Today Group and others. It will be interesting to see how this pans out in the days to come.

  • M&E industry to hit Rs8 trillion revenue by 2022: report

    M&E industry to hit Rs8 trillion revenue by 2022: report

    According to a report published by Boston Consulting Group (BCG) and Confederation of Indian Industry (CII), India’s media and entertainment (M&E) industry is expected to reach revenue of Rs7.5-8 trillion by 2022 from an estimated Rs4.5 trillion in 2017. Over the next five years, the industry is poised to grow at an annual growth rate of 11-12 per cent.

    The report highlighted that the M&E industry has the potential to generate four million jobs (direct and indirect) over the next four-five years, on the back of technology adoption, big data and analytics.

    By 2022, total employment across the industry is expected to be 6-6.5 million from the estimated 3.5-4 million in 2017. The report said that the structural changes across the industry and major shifts around adoption of technology, big data and analytics will lead to several new job roles and a massive reskilling of the current workforce.

    “The Indian M&E sector has huge room for growth and can create four-five million jobs without much spending from public infrastructure. Digital platforms are proliferating and there are tremendous opportunities that never existed before, especially for creators, storytellers and technology providers,’’ CII director general Chandrajit Banerjee said in the report.

    The report highlighted that M&E organisations need to rebuild their strategies to fit in the shifting digitally oriented landscape. “It’s the need of the hour for the industry to identify the creative, technological and analytical skills that will be required over the next five-seven years to restructure its business model for the upskilling exercise,” said Kanchan Samtani, partner and director at BCG, in the report.

    The report said that the M&E industry will require 140,000-160,000 trained/employable individuals entering the workforce every year for the next five years.

  • Liberty-owned MSO Virgin Media to axe 900 jobs over 2 years

    Liberty-owned MSO Virgin Media to axe 900 jobs over 2 years

    MUMBAI: Liberty Global owned MSO Virgin Media is planning to axe as many as 900 jobs in the UK over the next two years.

     

    In this business reorganisation exercise, the company said it will now focus on network expansion. As a part of the restructuring, some employees will also be moved to other roles within the company.

     

    Virgin Media CEO Tom Mockridge “Over the last three years Virgin Media has been transformed. We’re expanding, investing and growing our business. The proposed reorganisation will give us an even sharper focus on the customer, network expansion and business growth.”

     

    Virgin Media, which is one of the UK’s biggest telecommunications brands, providing fixed and mobile telephone, TV, and broadband internet services, was bought by American tycoon John Malone’s Liberty Global in 2013 for ?15 billion.

  • Liberty-owned MSO Virgin Media to axe 900 jobs over 2 years

    Liberty-owned MSO Virgin Media to axe 900 jobs over 2 years

    MUMBAI: Liberty Global owned MSO Virgin Media is planning to axe as many as 900 jobs in the UK over the next two years.

     

    In this business reorganisation exercise, the company said it will now focus on network expansion. As a part of the restructuring, some employees will also be moved to other roles within the company.

     

    Virgin Media CEO Tom Mockridge “Over the last three years Virgin Media has been transformed. We’re expanding, investing and growing our business. The proposed reorganisation will give us an even sharper focus on the customer, network expansion and business growth.”

     

    Virgin Media, which is one of the UK’s biggest telecommunications brands, providing fixed and mobile telephone, TV, and broadband internet services, was bought by American tycoon John Malone’s Liberty Global in 2013 for ?15 billion.