Zee Entertainment recently disclosed that it has downsized its Technology and Innovation Centre (TIC) by approximately 50%, following recommendations from a special committee. This decision comes after a thorough evaluation of various business verticals, prompting the company to streamline its operations.
In an official statement, Zee Entertainment Enterprises Ltd (ZEEL) stated that the Managing Director & CEO has reduced TIC’s staff strength by 50% to establish a more cost-effective structure for the Bengaluru-based business vertical, which specializes in offering technology solutions.
While the exact number of affected employees has not been disclosed by the company, a report by PTI indicates that ZEEL’s latest annual report mentioned, “The centre has over 650 engineers who give us an unparalleled edge in the race to win the digital ecosystem.”
Additionally, ZEEL has introduced a monthly management mentorship program called the 3M Program. This initiative aims to guide and empower the management team in achieving key performance metrics.
According to ZEEL’s statement, based on guidance from the board during the recently conducted 3M Program, the MD & CEO, Punit Goenka, has pruned TIC’s structure by approximately 50% and refined its scope of work.
Moving forward, TIC will focus more sharply on enhancing the overall content creation, distribution, and monetization process for the company by leveraging technology-led tools to gain deeper insights into consumer preferences.
Punit Goenka commented, “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.”
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