iWorld
ALTBalaji and ZEE5 launch first Stereoscopic 3D 360 VR narrative film with ‘Ragini MMS Returns Season 2’
MUMBAI: ALTBalaji and ZEE5, two of India’s leading homegrown platforms, have imprinted their mark, by being the first in the Indian OTT space to create an interactive, and engaging VR experience. Taking innovation, a notch higher, the makers introduced an industry-first Stereoscopic 3D 360 VIRTUAL REALITY narrative film at the recent trailer launch event of their upcoming horrex – Ragini MMS Returns Season 2. The specially curated 3D VR narrative from the series presented a surreal experience for the audience’ present at the event.
Audiences were in for an incredible visual treat as they were given VR headsets that immediately transported them to the terrifying yet sensual world of Ragini. Experiencing interesting glimpses from the series in an up close & personal fashion, the 10-minute long VR film entertained some and offered a spine-chilling experience to others. The story begins with Meena Sharma played by Sunny Leone, going to a villa and things start to slip out of hand on the first night itself when she senses something is wrong with the place. It also gives a sneak peek into the world of Ragini Shroff, a final year student played by Divya Agarwal. As her closest friend, Varsha is getting married; she goes on an all-girls trip with her friends to celebrate a bachelorette weekend.
Commenting on this, ALTBalaji Sr. VP and Head Marketing Divya Dixit says, “VR is one of those emerging technologies that is leading the way for interesting and innovative storytelling formats. More than being an extension of entertainment, VR storytelling is unique as it creates exceptional immersive worlds and soundscapes. Even though it is still at its nascent stage, we are extremely proud to become the first OTT platform to adopt this sophisticated technology. We seek to be pioneers in using virtual reality in mainstream entertainment.”
Ambisonics VR Labs founder Shatadru Sarkar, the Studio that created the VR film said "We are thrilled to have worked with ALTBalaji on bringing the Ragini MMS franchise to life in virtual reality. To the best of our knowledge, this is the first stereoscopic 3D 360 VR film out of India, and we hope ALT's foray into the immersive media space brings more attention to this new format. We truly believe that this is the next 'game changing' innovation in the increasingly crowded OTT space, and an evolution in consumer experience, from story-telling to story-living."
Clyde DeSouza, who directed the VR film added, "With this VR film adaptation of its hit series, ALTBalaji has shown foresight in introducing Virtual Reality filmed entertainment to mainstream OTT, setting the stage for Immersive media created in India."
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.
