ZEE Lays Off 50% TIC Employees: Cost-cutting Measures Implemented to Improve Operating Margin

Zee Entertainment has laid off 50% of its employees at its Technology and Innovation Centre (TIC) in Bengaluru. The company has undertaken this downsizing to reduce costs and increase its operating margins. This information has been disclosed in the filing to the stock exchange on Friday.

The company’s statement indicates that the restructuring of TIC has been undertaken following guidance received from the Zee Entertainment board. ZEE board recently informed the management team to reduce TIC expenses by 50% to ₹600 crore for FY25.

Focused on Creating Exceptional Content

Zee’s MD and CEO, Punit Goenka, stated, “We have focused on creating exceptional content. To achieve this, we need a blend of creative insight, detailed understanding of consumer preferences, and future technological innovations.”

He further mentioned that these efforts align with the company’s strategy to optimize resources and invest effectively to drive sustainable growth.

ZEE Entertainment Seeks to Achieve 20% Operating Margin

ZEE Entertainment is seeking to achieve a 20% operating margin. To accomplish this, the board management has demanded losses to be reduced from five verticals – Margo Networks (Sugar Box), Teleplay and Zindagi, Hippie, Vayu, and Linear TV businesses from the English cluster.

ZEE Operates 50 Channels in the Country and Over 40 International Channels

ZEE is a global content company that operates 50 channels in the country. These include Hindi general entertainment channels, regional entertainment channels, Hindi movie channels, and other channels. Additionally, the company operates over 40 channels in more than 120 countries. It also has its digital platform, ZEE5. ZEE started its first channel, Zee TV, in 1992.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.