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TODAY´S NEWS slashes 80 per cent of staff, to refocus business slashes 80 per cent of staff, to refocus business

Author | NULL | Monday, Jan 01,1900 8:46 AM

A- slashes 80 per cent of staff, to refocus business

The STAR Group has decided to rewrite the business model of and pack off about 80 per cent of its workforce including the CEO, Mr Sunil Lulla. Mr Sunil Rajshekar, formerly with, is expected to take over as the new CEO.

The latest move comes soon after the Rupert Murdoch-owned STAR Group bought out Mr Kar's stake in August. It acquired a near total stake in the portal for an undisclosed sum. Until then it held 37 per cent equity with an infusion of $50 million.

The horizontal portal has a workforce of some 125 people and STAR plans to retain a small team of around 25 people. The dotcom was promoted in April 2000 by Mr Pradeep Kar of the Microland Group.

STAR's new plan is to shift its business model from the present communication, entertainment and transaction based one to a content and information-based one.

At the time of the August acquisition, STAR Group's Executive Vice-President and Chairman, Mr Gary Walrath, had said it was a crucial step in STAR's strategy to become a multi-media, cross platform company adding value to its advertising clients in the region. Indya was to be the online face of STAR in India.

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