No End to Layoffs! Zee Ent’s Punit Goenka Announces 15 pc Job Cuts, Proposes ‘Lean Organization Structure’
ZEE Entertainment Enterprises Ltd.’s Managing Director and CEO, Punit Goenka, has announced the implementation of a lean organizational structure. This decision, proposed to the Board, comes as part of Goenka’s overarching plan to steer the company towards targeted goals amidst a rapidly evolving media landscape, the company said in a statement.
The proposed restructuring entails a reduction of the workforce by 15 per cent, across various segments of the company. This measure aims to streamline operations and create a more agile and cost-effective model while aligning with the company’s strategic priorities. By pruning the staff strength, ZEE Entertainment seeks to foster a culture deeply rooted in performance and profitability, vital for a content creation powerhouse.
In parallel, Goenka has proposed the elevation of select team members across business units, entrusting them with greater responsibilities. Additionally, he will personally oversee critical business verticals, facilitating cross-functional collaboration, expediting decision-making processes, and elevating productivity levels, the company statement said.
R. Gopalan, Chairman of ZEE said that while the board is in discussion of the new structure, it appreciates the move. “The Board appreciates the steps taken by the management to enhance the overall performance of the Company, reaffirming our faith in the team’s ability to drive the Company towards its set targets for the future,” Gopalan said.
Punit Goenka, added, “Building a simplified, lateral structure for the Company, will ensure that we maintain a sharp focus on Performance and Profitability as the key growth drivers, and the structure proposed to the Board is in line with this core thought.”
