We reported earlier that Disney India is closing its production exercise in India and Siddharth Roy Kapur planning his next innings a good section of the market believed that the corporate may change its decision if the highly awaited Aamir Khan starrer does astonishing business.
As per expectations Disney's DANGAL broke all records but still its 90 employees are facing an axe from their job according to reports published in variety.
DANGAL has right now collected 349.65 crore in India but the hopes of its production division getting a revival is still not to be seen.
The Hollywood major production house has incurred big losses last year with FITOOR, MOHENJO DARO, TAMASHA forcing them to pull back on its movie production plans similar to Reliance which stopped its movie productions after HAWAIZAADA in 2015. Disney will now concentrate on restructuring the company in order to re-calibrate its operations.
According to a report in Variety, Disney is expected to lay off 90 members from its staff in India. According to available reports Disney India strength in India is around 750 and majority of the slashing will be seen from UTV which Disney acquired in 2012 by paying $494 million.
Disney India's last movie as a production will be Ranbir Kapoor and Katrina Kaif starrer JAGGA JASOOS which is slated to release this year on April 7.
Andy Bird, chairman of Walt Disney International, has been quoted on the staff reduction saying, “There is always rebalancing and recalibration to reflect local market realities, We constantly look at the evolution of our company in every market we do business in.”
Markets and experts indicate that Disney India will now concentrate on distribution of its Hollywood movie slate, its Hungama and Bindass broadcast channels, and on consumer goods.