Zee Downsizes Technology & Innovation Centre In Bengaluru To Trim Costs

Zee Entertainment Enterprises (ZEE) has initiated significant strategic measures aimed at revitalising its Technology & Innovation Centre (TIC) which is located in Bengaluru. Led by its MD & CEO, Punit Goenka, these actions reflect a commitment to optimising resources and establishing a more cost-efficient framework to propel the company's sustained growth.

Following guidance from the board during the recent Monthly Management Mentorship (3M) Program, the MD & CEO has restructured the TIC, reducing its size by approximately 50 per cent and refining its focus areas. It is to be noted, that this 50 per cent workforce reduction step has been implemented only at the Tech & Innovation Centre in Bengaluru, and not across the board.

Moving forward, the TIC will concentrate on bolstering the company's content creation, distribution, and monetisation processes, leveraging technology-driven tools to gain deeper insights into consumer preferences.

Speaking on this decision, Goenka said, “We are laserfocused 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 solutions. The core and streamlined team at TIC will now only focus on enabling and empowering us in this process of content creation, distribution and monetisation.”

Emphasising a frugal approach and optimal resource utilization, the company's management, guided by its board chaired by R Gopalan, prioritises quality content delivery. Aligning with this ethos, the Company consistently pursues actions aimed at maximising shareholder value.

Recently, the company unveiled a strategic realignment of its revenue vertical, now overseen directly by the MD & CEO. The changes implemented at the TIC reflect this overarching strategic direction, aiming for a cost-effective structure capable of maintaining productivity and competitiveness to support company growth.

Guided by the board, the MD & CEO is working towards streamlining the organisation's structure and enhancing resource efficiency for sustainable long-term growth.