Zee Entertainment initiated cost-cutting measures, slashing 50% of its tech team at the Bengaluru innovation center following the failed merger with Sony.
According to a press release, the company announced layoffs, led by CEO Punit Goenka, to optimize resources and establish a cost-effective structure aimed at fostering sustained growth. However, Zee did not disclose the number of employees laid off.
The company stated that the innovation center will focus on improving content creation, distribution, and monetization processes, aiming to enhance overall operations.
Punit Goenka, ZEE’s MD & CEO, emphasized their commitment to delivering exceptional content that engages viewers worldwide.
He stressed the importance of meeting the high expectations of billions of viewers, underscoring the need for a creative approach, consumer insights, and futuristic technology solutions to achieve this goal, speaking on the decision regarding the innovation center.
Weeks after Nitin Mittal’s resignation as President of Technology and Data at Zee, Amrit Thomas will oversee data science, Kishore Krishnamurthy will lead engineering, Bhushan Kolleri will manage product, and Vishal Somani will handle enterprise and content technology, according to the company’s announcement.
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