Times Internet hands out pink slips to 200 employees
Only 5% of workforce has been reduced, says the company
In a major layoff, India’s leading media conglomerate Times Group has handed over pink slips to over 200 employees, sources privy to the development told e4m. All of them have been working with the Times Internet, the digital arm of Bennett Coleman and Co Ltd. (BBCL).
“While about 100 people have already been given marching orders, another 100 will be asked to leave soon. All these staffers belong to various levels and are part of various departments,” the sources said.
The rank and department-wise data could not be immediately obtained.
When asked about it, a Times Internet spokesperson said “five percent of the workforce” is being trimmed to “streamline the operations”.
“Streamlining our operations will result in reducing about 5% of our workforce, each of whom has made important contributions. All affected employees are receiving full severance irrespective of tenure or contract with the company. Whilst it is difficult to part with talented colleagues and friends, this one-time exercise is also the right and necessary decision towards building a strong and sustainable business,” the spokesperson said.
The spokesperson didn’t share the exact number of sacked employees though.
