Zee Entertainment job cuts: Zee Entertainment introduced on Friday a serious discount within the workforce at its Technology & Innovation Centre in Bengaluru, reducing employees by roughly half. 

The determination, attributed to cost-cutting measures, was made by the corporate’s Managing Director and Chief Executive Officer, Punit Goenka.

The transfer follows suggestions from a overview panel fashioned by the corporate, which included Chairman R Gopalan and Audit Committee Chairman Prakash Agarwal. 

The panel suggested Zee to considerably cut back losses in numerous enterprise segments, together with its English-language TV channels, and to implement cost-cutting measures to attain a key revenue goal.

In line with these suggestions, the committee prompt halving prices at Zee’s know-how and innovation centre by fiscal yr 2025, down from the earlier annual expenditure of 6 billion rupees ($72 million).

Zee Entertainment is presently navigating authorized challenges associated to failed offers with Sony and in cricket broadcasting. 

Additionally, the corporate faces heightened competitors following the merger of Disney and Reliance’s Indian media belongings, making a formidable $8.5 billion media conglomerate.

(With Reuters Inputs)