Zee layoffs: Punit Goenka cuts tech and innovation centre by 50 percent

The Company recently announced the strategic realignment of its Revenue vertical, that is now being directly driven by the MD & CEO.

By  Storyboard18Apr 1, 2024 9:30 AM
Zee layoffs: Punit Goenka cuts tech and innovation centre by 50 percent
Under the guidance of the Board, the Goenka is taking concerted efforts to achieve a streamlined structure of the organization and optimize resource utilization for improved efficiencies, to enable long-term growth. (Image sourced via Forbes India)

ZEE today implemented strategic steps to streamline and overhaul its Technology & Innovation Centre (TIC). Actioned by its MD & CEO, Punit Goenka, the steps are in line with his approach to optimize the resources and arrive at a cost-effective structure to drive continued growth for the Company.

Basis the guidance received from the Board during the recently conducted Monthly Management Mentorship (3M) Program, the MD & CEO has pruned the TIC’s structure by approximately 50% and streamlined its scope of work. Going forward, the TIC will maintain a sharper focus on enhancing the overall Content Creation, Distribution and Monetization process for the Company by utilizing technology led tools to gain deeper insights into consumer preferences.

Speaking on this decision, Punit Goenka, MD & CEO, ZEE said, “We are laser- focused towards creating exceptional content that is rich and engaging for our viewers. We have a huge responsibility on our hands to live up to the expectations of billions of viewers across the globe and we will continue to win their hearts. To achieve this, we need the blend of a creative approach, detailed consumer insights and futuristic technology solutions. The core and streamlined team at TIC will now only focus on enabling and empowering us in this process of content creation, distribution and monetization.” Frugal approach, optimal utilization of resources and sharper focus on quality content are the key tenets of the approach undertaken by the Company’s management, under the guidance of its Board, chaired by Mr. R. Gopalan. In line with this approach, the Company is consistently taking all the required steps that are best aligned to deliver maximum value to its shareholders.

The Company recently announced the strategic realignment of its Revenue vertical, that is now being directly driven by the MD & CEO. The key changes actioned at the TIC are in line with this macro-level strategic approach, with an objective to arrive at a cost- effective structure that is competent and productive enough, to deliver the same level of output towards the Company’s growth.

Under the guidance of the Board, the Goenka is taking concerted efforts to achieve a streamlined structure of the organization and optimize resource utilization for improved efficiencies, to enable long-term growth.


Tags
First Published on Mar 29, 2024 7:31 PM

More from Storyboard18

Brand Marketing

'No dignity': Widespread layoffs in India; lack of transparency and support leaves employees shaken

'No dignity': Widespread layoffs in India; lack of transparency and support leaves employees shaken

Brand Marketing

Gatorade unveils it's new turf at Delhi's Chandni Chowk to inspire active lifestyle

Gatorade unveils it's new turf at Delhi's Chandni Chowk to inspire active lifestyle

Brand Marketing

Tesla layoffs: Elon Musk is laying off 10 percent of Tesla's workforce

Tesla layoffs: Elon Musk is laying off 10 percent of Tesla's workforce

Brand Marketing

Kansai Nerolac Paints unveils new campaign with Ma Ka Pa Anand

Kansai Nerolac Paints unveils new campaign with Ma Ka Pa Anand

Brand Marketing

Star Sports and II Music's IPL soundtracks create social media frenzy; Over 20000 reels across social platforms

Star Sports and II Music's IPL soundtracks create social media frenzy; Over 20000 reels across social platforms

Brand Marketing

Puma signs Milind Soman as its running ambassador

Puma signs Milind Soman as its running ambassador

Brand Marketing

K-food to turn mainstream; renewed appeal of ghee: Godrej Food Trends Report 2024

K-food to turn mainstream; renewed appeal of ghee: Godrej Food Trends Report 2024

Brand Marketing

Multimedia brand, WOLF BREAD launches animation studio in Mumbai

Multimedia brand, WOLF BREAD launches animation studio in Mumbai