-By ArdorComm News Network
March 30, 2024
In a move to optimize resources, Zee Entertainment Enterprises has announced a significant reduction in its workforce at the Technology & Innovation Centre (TIC) in Bengaluru, with 50% of employees being laid off, the company confirmed in a statement. Although the exact number of affected employees was not disclosed, the decision is part of a broader plan to enhance operational efficiency and drive continued growth.
According to the statement, the restructuring aims to establish a more cost-effective structure while enabling the centre to focus more sharply on critical areas such as content creation, distribution, and monetization. By leveraging technology-driven tools to gain deeper insights into consumer preferences, the revamped TIC intends to enhance the overall content experience for viewers worldwide.
Punit Goenka, MD and CEO of ZEEL, emphasized the company’s commitment to delivering exceptional content and meeting the expectations of its global audience. He highlighted the importance of blending creativity with consumer insights and futuristic technology solutions to achieve these goals. Moving forward, the core team at TIC will concentrate solely on supporting and empowering the content creation, distribution, and monetization processes.
The strategic realignment reflects a frugal approach and a keen focus on quality content, consistent with the company’s management philosophy under the guidance of its Board, chaired by R. Gopalan. This decision comes after the termination of merger talks between Zee Entertainment and Sony Corporation’s India unit earlier this year, which aimed to create a $10 billion media conglomerate in the country.
As part of its ongoing efforts to adapt to evolving market dynamics, Zee Entertainment continues to refine its operational strategies, with recent changes including the direct oversight of revenue verticals by CEO Punit Goenka.