According to reports, as part of its ongoing restructuring, Zee Entertainment has let go of many employees.
As per the sources of the Economic Times, the downsizing is part of the rationalisation programme that began in April 2024. The programme was launched with the aim of streamlining operations and aligning the organisation with updated business priorities after the merger deal with Sony Pictures Networks India fell through.
About 200 people are expected to be affected by this move, most of whom will apparently be consultants rather than full-time staff.
“As part of its omni-channel approach, the company has been re-modelling and integrating its business divisions to create a more agile and collaborative organisation structure. The exercise is a part of the consistent and strategic efforts being taken to ensure a sharper focus on goals and performance,” a company spokesperson said.
The move, as per company officials, was made in accordance with the plan to decrease the headcount by about 15% after the merger did not pan out. Zee had announced the plan last year, and the number will affect about 700 employees in total.
Recently, broadcasters have found themselves struggling with falling advertising and subscription revenues amid subscriber churn and ad slowdown. Hence, measures are being taken to maximize profitability.
