Zee Entertainment has made significant cuts to its Technology and Innovation Centre (TIC) workforce, reducing it by approximately 50%. This decision follows recommendations from a special committee tasked with evaluating various business verticals within the company. While the exact number of affected employees has not been disclosed, Zee Entertainment’s latest annual report indicates that the TIC previously employed over 650 engineers, providing the company with a competitive advantage in the digital ecosystem.
As part of its restructuring efforts, Zee Entertainment has introduced a monthly management mentorship program called the 3M Program. The program aims to guide the management team in achieving key performance metrics. In line with the guidance received from the board during the 3M Program, the Managing Director & CEO, Punit Goenka, has streamlined the TIC’s structure to focus more sharply on content creation, distribution, and monetization processes. This restructuring aims to leverage technology-led tools to gain deeper insights into consumer preferences.
The company’s strategic realignment also includes a focus on enhancing its revenue vertical, directly overseen by the MD & CEO. This move comes amidst challenges faced by Zee Entertainment, including industry-wide macro slowdown, transitory issues, and management bandwidth constraints due to merger activities. Despite the setbacks, Zee Entertainment remains committed to improving performance and efficiency across its businesses to achieve higher EBITDA.
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