ZEE Entertainment Enterprises Ltd has announced plans to reduce its workforce by 15% to enhance performance and profitability, as stated by MD & CEO Punit Goenka.
The company disclosed in a regulatory filing that Goenka aims to streamline the workforce to ensure a sharper focus on future goals.
This move is intended to facilitate higher growth and efficient execution of strategic priorities, aligning with the company’s vision as a content creation entity.
Additionally, Goenka proposed elevating certain team members to take on increased responsibilities and assumes direct control over critical business verticals to foster cross-functional collaboration and expedite decision-making processes.
Goenka emphasized the importance of a lean organizational structure to the board, emphasizing the need for a simplified approach to maintain a sharp focus on performance and profitability.
ZEE Entertainment’s workforce currently comprises 3,437 permanent employees, according to its annual report for 2022-23.
Moreover, the company recently reduced its Technology and Innovation Centre (TIC) staff by approximately 50% under the guidance of a special committee.
