Zee Axes Almost Half of Bengaluru Tech Staff in Cost-Cutting Drive

Bengaluru: Zee Entertainment announced a significant reduction in its workforce at the Bengaluru Technology & Innovation Centre (TIC) as part of a company-wide restructuring initiative. The move follows recommendations from a committee formed by Zee to identify areas for cost optimization.

Punit Goenka, Managing Director and CEO of Zee confirmed the decision, citing the committee’s suggestion to substantially reduce losses and streamline operations across the company’s business verticals. This includes minimizing expenses at the TIC, which reportedly consumed roughly 6 billion rupees ($72 million) annually.

The restructuring comes amidst a challenging landscape for Zee. The company is not only grappling with ongoing legal battles but also faces heightened competition from the newly formed media giant resulting from the merger of Disney and Reliance’s Indian assets. This merger created an industry behemoth valued at $8.5 billion.

Zee’s strategic shift towards a leaner and more cost-effective structure aims to bolster its financial health and position it for sustainable growth in the competitive Indian media landscape. The company also intends to leverage technology solutions to enhance content creation, distribution, and monetization processes.