Thursday, May 23 2024 | Time 06:24 Hrs(IST)
Business Economy

Zee’s Punit Goenka proposes 15 pc cut in staff strength, lean structure

Mumbai, Apr 5 (UNI) Media company Zee Entertainment Enterprises Ltd (ZEEL) on Friday said that the company Managing Director and CEO Punit Goenka has proposed the implementation of a lean and streamlined management structure to the board.
ZEEL said that the proposal is in line with Goenka's strategic plan focused towards achieving the targeted goals for the company.
"In line with his overall strategic approach, the MD & CEO has initiated the process of rationalization of the workforce by 15% that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future," it said in a media release.
ZEEL said that the proposed structure is aimed towards arriving at a cost-effective operational model with speed and agility as the core areas of focus.
“ It will further enable the company to chart higher growth by maintaining a keen eye on Performance and Profitability, thereby seamlessly executing its strategic priorities as required for a content creation company,” it said.
In the lateral structure, Goenka has also proposed the elevation of certain team members across businesses, in order to provide them a higher level of responsibilities; besides him assuming direct charge of the critical business verticals leading to cross functional collaboration, quick decision-making and higher productivity levels.
“The detailed composition of the new operating structure will be announced after seeking the required approvals and guidance from the Board,” the company said.
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