Over 1,000 job cuts & counting: Pink slip panic hits M&E industry

Posted on 13th Mar 2025

In February 2025 alone, the sector saw only 1% year-on-year growth in hiring. The Content, Editorial and Journalism segment witnessed a 5% decline

The Media & Entertainment (M&E) sector is witnessing a wave of job cuts — and it is only mid-March. Nearly 1,000 employees across content, tech, ad sales, and administrative departments are already facing layoffs. Industry leaders cite declining revenues, cost rationalization, and efforts to reduce redundancies as the reasons for the layoffs.

The layoffs aren’t limited to smaller firms — major networks are handing out pink slips too. Experts warn that if 2024 was bad, 2025 could be worse.

The biggest blow so far has come from JioStar, the media giant formed from the merger of Reliance and Disney, which is set to axe nearly 600 roles across the country. The layoffs will affect staff from both Reliance and Star as the newly merged powerhouse restructures to streamline operations and eliminate overlapping roles. Other big companies, like Google and Meta, too are laying off employees.

According to Rajneesh Singh, CEO, Simpli Group (former Group Head HR- TV18 Ltd), the market is witnessing consolidation, where bigger players merge, which naturally results in layoffs and restructuring. This consolidation phase is set to continue, he added.

Additionally, several smaller media networks across languages are quietly cutting staff as well. While the exact number is difficult to pin down due to silent terminations, HR and hiring experts estimate the number of layoffs has already hit 1,000, with strong indications that this figure could double by the end of the year.

Hiring drought signals tough times

According to the latest data from Naukri, the outlook for M&E hiring is bleak. In February 2025 alone, the sector saw only 1% year-on-year growth in hiring. The Content, Editorial, and Journalism segment witnessed a 5% decline, while the Printing & Publishing sector reported a sharp 14% dip. City-wise, Mumbai, a key M&E hub, experienced a 4% drop in hiring during the same period.

“There's a lot of restructuring happening, which is inevitably leading to job cuts in various sectors, particularly in the M&E space. While I wouldn't say the impact is significantly higher, it has been consistent throughout the year,” said Singh.

Breaking it down by experience levels, fresher hiring in the M&E sector saw a 5% rise YoY in February. However, hiring for those with 4-7 years of experience declined by 2%, and the 8-12-year experience bracket faced the steepest fall, with hiring plummeting by 15%.

Singh mentioned employers are hesitant to commit, so, while they’re actively interviewing candidates, they aren’t closing those positions. This uncertainty is impacting not only campus placements but also lateral hiring. For experienced professionals in the 4-7 and 7-15-year range, companies are evaluating every position carefully, questioning if they can manage without filling that role.

Lokesh Nigam, CEO, Konverz AI, mentioned, “This is a classical problem across industries, not just M&E. Mid-level talent (10–15 years of experience) struggles because the skill requirements have shifted towards digital and AI. People who haven’t kept up with these changes are finding it harder to stay relevant. Companies are more inclined to bring in people with fresh, current skills, even if it means sunsetting older ones.”

Layoffs mirror business downturn

Speaking of declines, the firing trend is directly linked to business numbers. Especially those in the traditional media set-up.

For instance, Times Internet Limited (TIL), which asked about 200 of its employees to leave, recorded a total loss of Rs 199.31 crore during the period 2023-24. The ad revenue from online and digital platforms stood at Rs 690.73 crore, reflecting a slight decline of 2.7% compared to Rs 709.73 crore in 2022-23.

TIL is not alone. The Quint recorded an operating loss of Rs 30 lakh and net loss of Rs 4.51 crore in Q2 of FY25 in the same quarter that it laid off several employees as part of a restructuring exercise. With layoffs, The Quint was later able to narrow its losses in subsequent quarters.

These are just some of the examples. There are other organisations whose numbers do not exactly portray a growth trajectory.

While it’s a challenging solution, Singh believes job seekers should start considering becoming job creators. Given the current landscape, relying solely on traditional employment options may not be sustainable.

“Unfortunately, we aren’t seeing significant new investments or emerging companies that would otherwise drive hiring. The M&E sector appears stagnant, and I don’t foresee an upward trend anytime soon. The key is to look beyond M&E and broaden career possibilities — that’s becoming increasingly evident,” he mentioned.

Nigam highlighted that in 2025, print is likely to remain stable, digital will continue to grow, and the rest of the sectors (like cinema and production) will see more skill replacement rather than stable hiring patterns. The industry will evolve, but the need for adaptability and constant skill upgrading will be crucial.