iWorld
It’s raining awards for ALTBalaji this 2018!
MUMBAI: ALTBalaji which is India’s largest OTT platform for original and exclusive shows across various genres is on a winning splurge these days with awards and recognition in the digital and OTT space. 2018 has started on a high note for the digital platform as it was awarded as one of MUMBAI’S HOT 50 BRANDS at Mumbai Brand Summit 2018.
The digital platform was awarded the BEST OTT PLATFORM OF THE YEAR by a leading trade publication. Along with this highly prestigious trade award, the OTT platform was also recognized for it super talented artists like Rajkummar Rao and Ssumier Pasricha. Rajkummar Rao bagged an award in the Best Actor Among any OTT Content category for BOSE: Dead/ALIVE and Ssumier Pasricha was awarded as the Star Entertainer of the Year for Pammi Aunty.
Along with these awards, THE MOST ENTERPRISING BRANDS & LEADERS OF ASIA 2018 also felicitated Mr. Nachiket Pantvaidya, Group COO and CEO, ALTBalaji as the Most Enterprising CEO of the Year – Digital Entertainment for his outstanding contribution to the medium and for phenomenal success that ALTBalaji has garnered.
Speaking about the recent achievements, ALTBalaji, CMO, Manav Sethi said, “We are elated to be recognized and honored at such various and prestigious award shows and what is more exciting is that we have achieved this within 11 months of our launch. ALTBalaji is the only OTT platform in India to launch about 16 original shows that are LIVE in over 90 countries, and that too with a team of 70 people. This is a testimony to the amazing work our team has done so far and validation to fact that we understand the kind of entertainment audience wants. From here we just want to climb up the ladder as we have some great content in pipeline for our viewers.”
With more than 15 million mobile and web users and available in over 90 countries ALTBalaji currently offers 16 original shows in Indian languages across various genres such as romance, mystery, drama, comedy and offers entertaining original shows for kids.
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.
