The layoff trend has reached India now! We recently witnessed international companies like Teva, ESPN, GE and Siemens laying off a considerable number of employees. Now an Indian media firm NDTV added its name to the list.
As per the filings in stock exchange, the television media firm will be firing 25 percent of its total task-force by the next month as it plans on focusing on English and Hindi news and digital content business solely.
“The strategy we are adopting calls for a far leaner operation which will feed only our core business: our English and Hindi news channels, and NDTV Convergence and its digital teams that run our news and other apps and websites,” the statement filed by NDTV said.
NDTV will be minimizing its ancillary business that NDTV worked hard to expand over a span of few years. Since now they have different priorities and plan to focus just on English and Hindi news, they need to chop-off their workforce.
“This means minimizing all ancillary businesses that NDTV had expanded into over the last few years. Given our repriortization, our workforce has to be altered too — over the next one month, we are considering reduction of workforce up to 25%. We thank these departing employees for their contribution and hardwork,” it stated.
Lately NDTV was seen interested in entertainment and lifestyle, which it no longer plans on seeking. Laying off employees is its way to cut down the operational costs and limit those expansions.
Earlier, in July, NDTV also asked its 100+ employees (cameraman and tech staff) to leave as it planned on moving to mobile journalism.