iWorld
IPRS inks MOU with KOMCA
Mumbai: The Indian Performing Rights Society (IPRS) and KOMCA (Korea Music Copyright Association) have signed an MOU, whereby KOMCA and IPRS join hands to organise events that aim to enhance awareness, knowledge, and collaboration in the field of copyright (e.g. seminar on the latest copyright issues for the music industry), music creation (e.g. song-writing camp), and collective management (e.g. sharing experiences on best practices) for music creators. Fostering cross-border music between India and Korea.
Music is the core cultural wealth of nations like India and Korea with melody being at the heart of popular music. Indian music with its legendary legacy emanating from its various regions has been a top draw across the world. Blessed with catchy rhythms and chorus sections like Indian music, Korean Pop music is globally, well-received and amenable to blending with Indian music in its true elements. This, we believe, is just the beginning of a deeper association between the music talents of the two countries and will add a slew of listeners, consequently upping revenues. Given the open world we inhabit, it is in the best interest of the creators on both sides to be cognizant of their rights to maximize their earning potential. The MOU’s intent to arm the creators with this basic know-how has to be viewed in this light.
With the IPRS ever alert to widening the reach of the Indian music industry, it was only a matter of time before a solid MOU between the two associations came to fruition. The MOU is the true harbinger of an expansion phase that will give the music industry a wider spectrum. IPRS members and other Indian artists are also in line for better royalties, recognition and newer opportunities with this new development.
Legendary lyricist, screenwriter, poet, and IPRS chairman Javed Akhtar expressed his satisfaction with the same, stating, “The recently established collaboration with KOMCA ushers in a transformative period, encouraging a dynamic interchange of creation between India and Korea. Our narrative revolves around breaking down barriers, creating opportunities, and envisioning a world where creators and creativity flourish. We look forward to more collaborative initiatives for our members in the near future. “
Commenting on the same, IPRS CEO Rakesh Nigam shared his thoughts on the collaboration, stating, “The MOU with KOMCA represents a pivotal step in fostering a dynamic cross-cultural music exchange between India and Korea. This collaboration symbolizes our commitment to nurturing creativity while ensuring creators’ rights are protected. The MOU is poised to be a pivotal step in creating a transformative journey that opens up new avenues for creative partnerships and innovation among our esteemed creator members.”
KOMCA general manager Giseob You shared his views stating “KOMCA x IPRS MOU paves the path towards a stronger bond between the two societies. Korea Music Copyright Association (KOMCA) and IPRS, representing the author-composers of two musically rich countries, will now work together to spread awareness on creators’ rights and create new opportunities for the promising talent of both countries through music collaborations and partnerships.”
iWorld
Meta plans 8,000 layoffs in new AI-led restructuring wave
First phase from May 20 may cut 10 per cent workforce amid AI pivot.
MUMBAI: At Meta, the future may be artificial but the cuts are very real. The social media giant is reportedly preparing a fresh round of layoffs, with an initial wave expected to impact around 8,000 employees as it doubles down on its artificial intelligence ambitions. According to a Reuters report, the first phase of job cuts is slated to begin on May 20, targeting roughly 10 per cent of Meta’s global workforce. With nearly 79,000 employees on its rolls as of December 31, the move marks one of the company’s most significant workforce reductions in recent years.
And this may only be the beginning. Sources indicate that additional layoffs are being planned for the second half of the year, although the scale and timing remain fluid, likely to be shaped by how Meta’s AI capabilities evolve in the coming months. Earlier reports had suggested that total cuts in 2026 could reach 20 per cent or more of its workforce.
The restructuring comes as chief executive Mark Zuckerberg continues to steer the company towards an AI-first operating model, committing hundreds of billions of dollars to the transition. Internally, this shift is already visible: teams within Reality Labs have been reorganised, engineers have been moved into a newly formed Applied AI unit, and a Meta Small Business division has been created to align with broader structural changes.
The trend is hardly isolated. Across the tech sector, companies are trimming headcount while investing aggressively in automation. Amazon, for instance, has reportedly cut around 30,000 corporate roles nearly 10 per cent of its white-collar workforce citing efficiency gains driven by AI. Data from Layoffs.fyi shows over 73,000 tech employees have already lost jobs this year, compared with 153,000 in all of 2024.
For Meta, the move echoes its earlier “year of efficiency” in 2022–23, when about 21,000 roles were eliminated amid slowing growth and market pressures. This time, however, the backdrop is different. The company is financially stronger, generating over $200 billion in revenue and $60 billion in profit last year, with shares up 3.68 per cent year-to-date though still below last summer’s peak.
That contrast underlines the shift underway. These layoffs are less about survival and more about reinvention. As Meta restructures itself around AI from autonomous coding agents to advanced machine learning systems, the question is no longer whether the company will change, but how many roles will be left unchanged when it does.
