iWorld
Anil Kumar joins Skandha Media as director of growth & biz development
MUMBAI: Cloud-based playout, broadcast, and OTT solutions provider Skandha Media Services has appointed Anil Kumar as director of growth and business development.
Kumar brings over seven years of industry experience, having previously served as director of SaaS, south Asia at TVU Networks and India sales head at Amagi. He has contributed to high-profile projects with leading brands including Warner Bros. Discovery, Viacom18, Samsung TV Plus, IndiaTV, and Shemaroo.
In his new role, Kumar will spearhead Skandha’s growth strategy by driving adoption of its cloud and AI-powered ad monetisation tools within general entertainment and news platforms, while expanding its live sports streaming customer base. He will focus on gathering client insights, forging new technology partnerships, and expanding the company’s reseller network.
Skandha Media Services founder & CEO Yogesh Salian said: “Anil’s proven track record in sales, data-driven decision-making, and his extensive industry network will be invaluable as we strategically broaden our presence across south Asia and beyond.”
Said Kumar: “Skandha’s culture of creativity, leadership, and its reputation for delivering first-class playout services for major events like those on Disney+ Hotstar and JioCinema were key factors in my decision. I look forward to contributing to its continued growth.”
Kumar holds a bachelor of engineering from BIT Sindri Engineering College and an MBA from the Indian Institute of Management Lucknow, where he was recognised as “the most creative mind” on campus. He is also a published author, sketch artist, and mentor to young professionals.
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.
