Monday, August 17
Culver Max Entertainment, which operates under the Sony Pictures Networks India (SPNI) brand name, is set to restructure its operations by reshuffling senior management and initiating cost-cutting measures, as it recalibrates its business strategy amid tough market conditions.The plans include laying off over 100 employees, said sources privy to the development.The company, which owns and operates 28 TV channels such as Sony Entertainment Television (SET) and Sony Max, besides streaming platform SonyLIV, is likely to outsource post-production work, which could impact a sizeable chunk of the jobs, they added.126442860 The remaining job losses are expected to come from marketing, advertising sales and Broadcast Operations & Network Engineering (BONE), which manages backend operations.The
Domestic telecom gear maker Tejas Networks on Friday reported Rs 196.55 crore consolidated loss for the second straight quarter in the October-December period, mainly due to lower sales, including deferment of purchase order from state-owned BSNL.The company had posted a profit of Rs 165.67 crore a year ago.Its consolidated revenue from operations plunged by about 88 per cent to Rs 306.79 crore during the reported quarter from about Rs 2,642 crore in the December 2024 quarter.The company has been a key vendor for state-owned BSNL's 4G network as part of the CDOT-TCS consortium and claims to be the biggest supplier of network routers.During the quarter, its purchase order worth Rs 1,526 crore from BSNL for 18,000 sites was delayed.Around 85 per cent of Tejas Networks' revenue mix, excluding
U.S. stocks hit records Friday following a mixed report on the U.S. job market, one that may delay another cut to interest rates by the Federal Reserve but does not slam the door on it. The S&P 500 climbed 0.6% and topped its prior all-time high set earlier in the week. The Dow Jones Industrial Average added 237 points, or 0.5%, and likewise set a record, while the Nasdaq composite led the market with a 0.8% gain. The moves came after the U.S. Labor Department said employers hired fewer workers during December than economists expected, though the unemployment rate improved and was better than expected. It reinforced how the U.S. job market may be in a " low-hire, low-fire" state and may hopefully avoid a recession. On Wall Street, power company Vistra soared 10.5% to help lead the ma
