ZEE Entertainment Enterprises (ZEE), is set to cut down its workforce by almost 50 percent at its Technology & Innovation Centre (TIC), Bengaluru as part of ‘strategic steps to streamline and overhaul’ actioned by Punit Goenka, MD & CEO.
This it says is in line with Goenka’s approach to optimise resources and arrive at a cost-effective structure to drive continued growth for the company.
The steps are taken on the basis of 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 percent and streamlined its scope of work. Going forward, the TIC is expected to maintain a sharper focus on enhancing the overall content creation, distribution and monetisation process for the company by utilising technology led tools to gain deeper insights into consumer preferences.
Punit Goenka 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 monetisation.”
The company claims it is taking a frugal approach, optimal utilisation of resources and a sharper focus on quality content as the key tenets of the approach being undertaken by the management, under the guidance of its Board, chaired by 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,” said the statement.
It was recently, ZEE announced the strategic realignment of its revenue vertical, which 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.
Furthermore, ZEE states that under the guidance of the Board, the MD & CEO is taking concerted efforts to achieve a streamlined structure of the organisation and optimise resource utilisation for improved efficiencies, to enable long-term growth.