In a significant move to streamline operations and boost performance, leading media company Zee Entertainment has unveiled plans for organizational restructuring that will impact around 15% of its workforce. As the entertainment industry evolves at a rapid pace, simplifying processes and embracing agility has become imperative for businesses to stay competitive.
In a statement yesterday, Punit Goenka, MD and CEO of Zee Entertainment outlined the key aspects of the new structure. Over the next few months, the company will undertake initiatives to right-size its employee base while simultaneously elevating high-performers to roles of greater responsibility. Approximately 500 roles are expected to be impacted with the overall goal of achieving targeted objectives of 8-10% annual revenue growth and 18-20% EBITDA margins by 2026.
As part of the exercise, the company will consolidate functions across business verticals to establish a lean operating model. Broadcast, Digital, Studios and Music properties will be more tightly integrated to maximize synergies. Goenka noted that streamlining overlaps and consolidating similar activities under a flatter structure will result in improved focus on execution, productivity and value generation.
The shift is intended to make Zee Entertainment future-ready by enhancing specialization. Resources will be reallocated to opportunities presenting the highest growth potential. Strong performers will get opportunity to take on bigger challenges. The restructuring reflects the company's commitment to excellence and determination to optimize the business portfolio for long term stakeholders.
