Zee Entertainment cuts 200 jobs as part of major shake-up
Zee Entertainment has let go of about 200 employees and consultants in a big restructuring move, following its failed merger with Sony in early 2024.
The company plans to eventually trim 15% of its workforce—meaning around 500 permanent staff out of 3,400 could be affected—as it looks to cut costs and simplify operations.
Tech hub takes the biggest hit
Zee's Technology and Innovation Centre in Bengaluru saw its team slashed by half, with hundreds of engineers impacted.
CEO Punit Goenka is now personally overseeing key divisions after several senior leaders exited.
By the numbers: Profits dip, subscriptions up
Despite these changes, Zee's net profit dropped by 63% year-on-year last quarter to ₹77 crore.
Ad revenue also slipped by 11%, but subscription earnings actually grew by 5%, showing how much the media game is shifting.
Fun fact:
Zee's tech center was once home to over 650 engineers, offering a significant edge in the digital ecosystem competition before this round of layoffs.