iWorld
Amazon Prime Video drops the trailer for upcoming original series Bandish Bandits
KOLKATA: – Amazon Prime Video today released the trailer of the highly awaited all-new Amazon Original Series Bandish Bandits which will be available to stream from 4 August, 2020. Produced and created by Amritpal Singh Bindra and directed by Anand Tiwari, the all-new Amazon Original Series is set in Jodhpur and tells the story of two young musicians, hailing from contrasting backgrounds. Bandish Bandits also features an exciting original soundtrack, composed by Shankar-Ehsaan-Loy, who are also making their digital debut with this show.
Lead actor Ritwik Bhowmik said: “Bandish Bandits has been a dream in the making. Working with stalwarts such as Naseeruddin Shah, Rajesh Tailang, Sheeba Chaddha and Atul Kulkarni for my debut was one of the most fulfilling experiences of my life. Bandish Bandits is a blend of Indian traditions seeped in music that beautifully describes young love, ambition, passion and family values in a simple, yet powerful manner.”
Lead actress Shreya Chaudhry said: “Working with Anand Tiwari has always been something I had wanted to do, so being part of Bandish Bandits is nothing short of serendipitous. I could not have asked for a better setting to work and learn more about acting, that too from some of the most talented and respected actors in India! I believe the show is a heart-warming journey of music and love and think it is something the audience would very much enjoy watching.“
Bandish Bandits follows the story of Radhe and Tamanna. Radhe is a singing prodigy determined to follow in the classical footsteps of his grandfather. Tamanna is a rising pop sensation desperate to become India's first international popstar. Radhe's world is turned upside down when he falls in love with Tamanna. Torn between helping her achieve superstardom and staying true to his own music and his family’s legacy, will he succeed in juggling both at the risk of losing everything he has?
iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
