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In a significant move, Zee Entertainment has initiated a substantial workforce reduction by laying off 50% of its tech team at its innovation centre in Bengaluru. This decision follows the company’s failed merger discussions with Sony and is part of broader cost-cutting measures.
The exact number of employees affected by these layoffs has not been disclosed by the company. However, Zee Entertainment emphasized that these actions were taken under the direction of its Managing Director and CEO, Punit Goenka, to optimize resources and establish a cost-effective structure to drive continued growth.
The company’s innovation centre in Bengaluru is expected to focus on enhancing content creation, distribution, and monetization processes, aligning with Zee’s strategic goals. Punit Goenka stated, “We are laser-focused towards creating exceptional content that is rich and engaging for our viewers.”
The restructuring at Zee also saw Nitin Mittal stepping down as the President of Technology and Data, with Amrit Thomas assuming responsibilities for data science, Kishore Krishnamurthy leading engineering efforts, Bhushan Kolleri overseeing product development, and Vishal Somani managing enterprise and content technology.
These developments reflect Zee Entertainment’s efforts to realign its operations and resources in response to evolving market dynamics and strategic objectives. The company remains committed to delivering quality content and engaging experiences for its global audience while navigating through organizational changes.
Sources By Agencies
