NEW DELHI : ZEE Leisure Enterprises Ltd will lay off an estimated 15% of its employees as managing director and chief Punit Goenka strikes to implement a leaner and extra streamlined administration construction, geared toward lowering prices and reaching the corporate’s focused goals.
The transfer will affect an estimated 500 folks.
The corporate stated on Friday {that a} proposed new construction, introduced to the Board, seeks to determine a cost-efficient operational mannequin. This mannequin is designed to spur greater development by specializing in efficiency and profitability. In keeping with Zee’s assertion, the organizational redesign aligns with these goals.
“Constructing a simplified, lateral construction for the corporate, will be certain that we keep a pointy give attention to efficiency and profitability as key development drivers, and the construction proposed to the Board is consistent with this core thought. The streamlined workforce at ZEE will keep a sharper give attention to focusing on greater ranges of productiveness to drive development as a way to generate worth for all our stakeholders going ahead,” Goenka stated in an announcement.
Over the previous few weeks, Zee has witnessed a spate of senior-level exits, together with Rahul Johri, president of enterprise; Punit Misra, president of content material and worldwide markets; and Nitin Mittal, president and group chief know-how officer, as a part of its efforts to chop prices and streamline operations.
The deliberate organizational design intends to domesticate a collaborative, performance-driven tradition the place every workforce member acts as a companion and co-owner of the enterprise, Zee added.
On this restructured setting, Goenka has proposed selling workforce members throughout completely different enterprise models to greater tasks. He additionally plans to take direct oversight of key enterprise areas to encourage cross-functional collaboration.
Zee will disclose the specifics of the brand new operational framework after acquiring the required approvals and steerage from the board. To strengthen content material creation capabilities, the lateral construction will give attention to a extra collaborative setting throughout the core enterprise segments to leverage synergies when it comes to creativity, know-how and income producing alternatives, the broadcaster stated.
The core enterprise models of the proposed construction will embody broadcast with the linear enterprise together with Zee’s portfolio of channels throughout genres, digital, the film studio and the music vertical whose focus will probably be to fortify its stronghold available in the market and additional improve its monetization avenues aiming at profitability.
“The board has famous the MD and CEO’s steps being taken to streamline the group and the proposed lean construction. Whereas the Board is within the means of discussing the identical, the proposed construction actually is consistent with the strategic steerage supplied to the administration,” R. Gopalan, chairman, ZEE stated in an announcement.
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Printed: 05 Apr 2024, 06:28 PM IST
