New Delhi Television Limited aka NDTV has decided to show pink slip to almost 25 percent of its total staff next month. The news has given jitters to all the employees of the organization as they don’t know who could be fired in the coming New Year. For quite some time, we have been noticing that the staff layoff has been trending across the world where media houses and other companies like ESPN, Siemens, S Teva and GE are also making news rounds.
Reason why NDTV is firing its 25% staff
The sources reveal that firing of employees by the NDTV is a part of their wider internal turnaround exercise. Now NDTV is planning to focus mainly on the core Hindi and English News and Digital Content business. The organization now wants to cut down on their business that they had spread widely in last few years. Not only this, in 2018, the media house will try on the technology-based mobile journalism for the fastest and efficient medium of sending the breaking news from across India.
Only NDTV Convergence along with its digital teams that are responsible for operating the news on the websites, television channels and on the apps will have their jobs secured. Going by the Bombay Stock Exchange trend, NDTV has seen a surge in the shares from 1 percent to as much as 5 percent in a day at the price of Rs 47.75 from Rs 45.95. In the quote given to other media channels, the NDTV officials mentioned that as they are altering their work and the workforce also needs to be altered. They had expressed the gratitude to those employees who will be soon departing the organization for their diligent work and contribution.
Other details about NDTV & its workforce
With the vision and aim for leaner operations, NDTV will now do cost-cutting to reprioritize their core work as well as their workforce accordingly. The organization is now streamlining on its main branch of news content for digital media only and shutting down its other expansions like entertainment, lifestyle and even the e-commerce sections that are on the board. It is anticipated that the employees who will be shown pink slips will either be given a months time as notice period or a month’s salary in advance to compensate for their losses.