iWorld
Stepathlon appoints sports industry veteran Nick Rusling as MD
Mumbai: Technology-driven fan engagement company, Stepathlon has appointed Nick Rusling, a veteran of the sports industry, as managing director. Rusling will be based in London and will report to CEO & chairman Ravi Krishnan.
Rusling has been associated with the sports industry for over 25 years. After working with the sports behemoth, IMG, Rusling turned entrepreneur and started Human Race Events in 2010. Human Race acquired 10 other businesses during its growth phase, created many events from scratch, and in 2016, was acquired by ASO, the owners of the Tour de France, Dakar Rally, and Paris Marathon.
Krishnan said, “I have known Nick for over 15 years. He’s not only a great professional from the sports industry but also has relevant commercial, digital, and leadership skills to complement the Stepathlon team. He brings with him many important and relevant relationships in the UK and European market in multiple areas that are relevant for the growth of the company.”
Since 2001, Rusling has been primarily focused on the mass participation industries – running, marathons, cycling, and triathlon – delivering hundreds of events for millions of participants all around the world, including the UK, Abu Dhabi, Stockholm, and Barcelona. Prior to mass participation events, Rusling worked as a sports agent, representing Ian Botham, Pat Cash, and Damon Hill.
Krishnan added, ” Nick has been building some of the most successful events in the market in some of the greatest cities in the world, pioneering digital progress to enhance the customer experience beyond event day.”
Rusling commented, “I am driven, both personally and in business, by getting the world fit and active. The genius of Stepathlon is that we harness the power of fan communities in the world of sport, music and beyond, to inspire and motivate millions of people to get fit and healthy together—all by taking part in our virtual races, unrestricted by the capacity of roads. The opportunity is limitless as everyone is a fan of something.”
Rusling has also been heavily involved in the charity sector, helping raise over £150 million for multiple causes, and has worked as a trustee for sports-based charities, Herne Hill Velodrome Trust and Women in Sport.
The appointment follows a new global round of investment that Stepathlon has raised from a pre-eminent mix of individuals from the world of sports, entertainment, media and lifestyle, and prominent investors from private equity, technology, ESG and family offices. Demonstrating confidence in the technology-driven fan engagement business of Stepathlon, existing and new investors participated in this fresh round of capital raise by the company.
iWorld
Netflix cuts jobs in product division amid restructuring
Layoffs hit creative studio unit as leadership and strategy shifts unfold.
MUMBAI: The streaming wars may be fought on screen, but the latest plot twist is unfolding behind the scenes. Netflix has reportedly begun laying off several dozen employees from its product division as part of an internal reorganisation, according to a report by Variety. The cuts are believed to have primarily affected the company’s creative studio unit, which works on marketing assets such as in app trailers, promotional visuals and live experience content for the streaming platform.
The company has not disclosed the exact number of employees impacted.
According to the report, the layoffs were not tied to employee performance. Instead, the restructuring eliminated certain roles while other employees were reassigned to different teams within the organisation.
The roles affected are understood to include designers, producers and creative specialists responsible for marketing and brand experience initiatives.
The job cuts come as Netflix adjusts its leadership structure and reshapes its product and creative teams. Last month, Elizabeth Stone was promoted from chief technology officer to chief product and technology officer, giving her oversight of product, engineering and data operations across the company.
Earlier, in December 2025, Netflix also appointed Martin Rose as head of creative for global brand and partnerships, a move seen as part of a broader restructuring of the company’s brand and product functions.
Despite the layoffs, Netflix remains one of the largest employers in the streaming sector. The company is estimated to employ around 16,000 people globally, with roughly 70 percent of its workforce based in the United States and Canada. In 2023, the company reported approximately 13,000 employees, indicating that its headcount had grown significantly before the latest restructuring.
The workforce changes arrive at a time when Netflix is navigating a shifting financial and strategic landscape in the global entertainment industry.
The streaming giant recently secured $2.8 billion in additional cash after receiving a breakup fee from Paramount Skydance following its withdrawal from a deal involving Warner Bros. Discovery.
Speaking to Bloomberg, Netflix co chief executive Ted Sarandos explained that the company had evaluated multiple scenarios during the negotiations but chose not to match the competing offer once it learned that a higher bid had been submitted.
Netflix had capped its offer at $27.75 per share and ultimately stepped back rather than pursue Paramount’s $111 billion acquisition deal, which included a personal guarantee.
Sarandos also cautioned that the financing structure behind the Paramount Skydance transaction could have ripple effects across the entertainment industry.
According to him, the debt heavy deal could trigger significant cost cutting, with David Ellison, chief executive of Paramount Skydance, expected to eliminate about $16 billion in costs and potentially cut thousands of jobs as part of the integration process.
For Netflix, the current restructuring appears to be part of a broader attempt to streamline operations while continuing to invest in product, technology and global content even as the streaming industry enters a new phase of consolidation and financial discipline.
