Zee to reduce workforce by 15% in company overhaul | Business News

Zee Entertainment, one of India’s leading media companies, is set to undergo a major restructuring as MD and CEO Punit Goenka announces plans to lay off approximately 15% of its workforce. This move is part of a broader strategy to create a leaner and more streamlined management structure aimed at reducing costs and achieving targeted revenue growth and Ebitda margins by FY26.

The layoffs are expected to impact around 500 employees out of the total 3,437 permanent staff. This announcement comes shortly after Goenka’s decision to take a voluntary pay cut of 20%, demonstrating his commitment to the company’s financial goals.

In a bid to establish a cost-efficient operational model, Zee proposed a new structure on Friday that focuses on performance and profitability. This initiative follows Goenka’s three-pronged strategy of cutting costs, reducing business overlaps, and enhancing content quality, which was introduced earlier this year.

As part of its efforts to streamline operations, Zee has witnessed several senior-level exits in recent weeks. Goenka also plans to promote team members across different business units to higher responsibilities and take direct oversight of key areas.

While the specifics of the new operational framework are yet to be disclosed pending board approvals, Goenka outlined a broad blueprint on Friday. This includes a focus on the broadcast business, digital platforms, movie studio, and music vertical to strengthen Zee’s position in the marketplace.

Shares of Zee ended slightly down on the BSE following the announcement. The company is poised for a significant transformation as it navigates the evolving media landscape under Goenka’s leadership.