iWorld
Rediff.com Q2 net profit up at $1.5 mn
MUMBAI: Rediff.com has posted a net a income of $ 1.5 million, or 5.14 cents per ADS, for the second quarter ended 30 September 2006, up from $ 310,000, or 1.19 cents per ADS, a year ago.
Revenues rose by $6.66 million, an increase of 53 per cent over revenues from the quarter ended 30 September 2005. While India contributed to online revenues that grew by 71 per cent to $4.71 million, as compared to the corresponding period of the previous year.
US Publishing revenues for the second quarter increased by 23 per cent to $1.95 million compared to the revenues for the quarter ended 30 September 2005, states an official release.
Operating EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) increased to US $1.14 million for the quarter ended 30 September 2006 as compared to US $0.50 million in the corresponding period of the previous year.
With revenues from the India Online advertising business growing by 94 per cent for the quarter ended 30 September, compared to the same quarter in the prior fiscal year, online advertising remains the primary growth driver for the company.
There has also been a spike in the number of registered users on the site which has grown by 21 per cent to 47.7 million, over the number of registered users a year ago.
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.
