ZEE Entertainment’s Punit Goenka to lay off 15% of workforce to cut costs

Indian broadcaster ZEE Entertainment Enterprises (Zee) has proposed a new, streamlined management structure to the board to rationalise its workforce by 15 per cent, the company said in a statement.

“The proposed structure is aimed (at) arriving at a cost-effective operational model with speed and agility as the core areas of focus,” the company said. The firm did not give the number of layoffs.

In the new lateral structure, Punit Goenka, managing director and chief executive officer, proposed the elevation of certain team members across businesses, in order to provide them with a higher level of responsibilities. Besides, Goenka will assume direct charge of the critical business verticals leading to cross functional collaboration, quick decision making, and higher productivity levels.