Sony Pictures India plans to reshuffle top roles, cut jobs

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.

The remaining job losses are expected to come from marketing, advertising sales and Broadcast Operations & Network Engineering (BONE), which manages backend operations.

The company is likely to unveil a new organisational structure tentatively by the end of this month, sources noted, adding that it had initiated a restructuring exercise earlier this year.

This is the first major strategic exercise under SPNI CEO Gaurav Banerjee, who took over the role in August 2024. While SPNI did not respond to queries, a source said the company has outlined an organisational evolution aligned with its long-term strategy.

The development comes at a time when the company’s core linear television business continues to decline, while digital revenues have yet to fully offset losses from TV.

The decision will help SPNI control its employee benefit expense, which surged 21% to ₹652 crore in FY25. SPNI’s net profit nearly halved to ₹456 crore in FY25 from ₹843 crore a year earlier. Revenue from operations fell 4.4% to ₹6,151 crore, while total expenses rose 5.6% to ₹5,770 crore.

Apart from downsizing, SPNI is also expected to restructure its senior management team by handing additional responsibilities to existing leaders. The company is also considering changes to its TV and digital businesses, besides consolidating the revenue function.

Over the last two years, several senior executives have exited the company, including former Sony Entertainment Television (SET) head Neeraj Vyas, TV ad sales head Sandeep Mehrotra, and most recently, SonyLIV head Danish Khan.

Sony Pictures Entertainment (SPE), part of Japan’s Sony Group Corp, derives around 10% of its global revenue and profit from India, making it one of its largest markets outside the US. It is among the last large US media companies to remain in India, apart from Warner Bros Discovery.

Rivals such as JioStar and Zee Entertainment have also undertaken workforce reductions in the last couple of years due to pressure on profitability.

JioStar’s headcount shrank by over 500 employees following the restructuring triggered by the merger of Star India and Viacom18.

Zee Entertainment has sacked around 700 employees as part of a restructuring exercise underway since 2024, after its merger with SPNI fell through.