30 March 2024 – Zee Entertainment has initiated substantial cost-cutting measures, resulting in a significant reduction of its technology workforce by 50% at its innovation center in Bengaluru. This decision follows the termination of merger discussions with Sony, aligning with Zee’s strategy to optimize resources and establish a cost-effective structure for sustained growth.
The company, under the leadership of MD & CEO Punit Goenka, has undertaken these steps to streamline operations and drive efficiency across content creation, distribution, and monetization processes. While the exact number of employees affected remains undisclosed, Zee aims to leverage its innovation center to elevate its overall content delivery capabilities.
Punit Goenka reiterated Zee’s commitment to delivering compelling content that resonates with its global audience. Emphasizing the importance of creativity, consumer insights, and technological advancements, Goenka expressed confidence in Zee’s ability to meet viewers’ expectations.
Following the recent developments, Nitin Mittal stepped down as President of Technology and Data at Zee. The company announced key leadership changes, with Amrit Thomas overseeing data science, Kishore Krishnamurthy leading engineering efforts, Bhushan Kolleri managing product development, and Vishal Somani handling enterprise and content technology.
