Zee Entertainment Slashes Workforce at Bengaluru Tech Center in Cost-Cutting Drive

Zee Entertainment announced a significant workforce reduction at its Technology & Innovation Centre in Bengaluru on Friday. The move, which cuts staff by roughly half, follows recommendations from a company-formed review panel focused on cost reduction.

The decision comes after the committee, led by chairman R. Gopalan and audit committee chairman Prakash Agarwal, identified areas for improvement. The committee advised Zee to not only substantially reduce losses in ventures like its English-language TV channels, but also to cut costs across the company to meet key profit targets.

Specifically, the committee recommended halving the costs associated with Zee’s technology and innovation center in the coming fiscal year (2025). This represents a significant reduction from the center’s previous annual budget of 6 billion rupees ($72 million).

Zee Entertainment is facing multiple challenges. In addition to the cost-cutting measures, the company is currently entangled in legal battles over failed mergers with Sony and for cricket broadcasting rights. The media landscape is also becoming increasingly competitive, with the recent merger of Disney and Reliance’s Indian media assets creating a new $8.5 billion giant.

Leave a Reply

Your email address will not be published. Required fields are marked *