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Goenka has also initiated the process of rationalization of the workforce across companny by 15 per cent in order to prune the staff strength.
This will further enable Zee to arrive at a streamlined team that is sharply focused on the set goals for the future, Punit Goenka noted..
“Building a simplified, lateral structure for the Company, will ensure that we maintain a sharp focus on Performance and Profitability as the key growth drivers, and the structure proposed to the Board is in line with this core thought,” he said, adding that the streamlined team at ZEE will maintain a sharper focus on targeting higher levels of productivity to drive growth in order to generate value for all its stakeholders going forward.
As part of the new move, the proposed organization design will see every team member of the lean structure function as a partner and co-owner of the Company, emphasizing a sense of ownership and accountability among employees.
Additionally, Goenka will also be taking direct charge of critical business verticals to promote cross-functional collaboration, quick decision-making, and higher productivity levels.According to Zee Ent, the core of the new operating structure will be centered around content creation, which is identified as the company’s core strength. To further strengthen its content creation capabilities, the lateral structure will focus on creating a more collaborative environment across core business segments, i.e., Broadcast, Digital and Movies to leverage synergies in creativity, technology, and revenue-generating opportunities.
R. Gopalan, Chairman of ZEE said that while the board is in discussion of the new structure, it appreciates the move.
“The Board appreciates the steps taken by the management to enhance the overall performance of the Company, reaffirming our faith in the team’s ability to drive the Company towards its set targets for the future,” Gopalan said.
