On 22 January, Sony Group Corp., the Japanese parent of Sony Pictures Networks India (SPNI) and Bangla Entertainment Pvt. Ltd (BEPL), had announced the termination of the $10-billion merger agreement with ZEEL, while seeking $90 million for breach of conditions besides initiating arbitration.
The layoffs are expected to affect approximately 500 employees, of the total 3,437 permanent staff. The announcement comes within days of Goenka's decision to take a voluntary pay cut of 20%.
Zee Will Fire 700 Employees As Workforce To Be Reduced By 15% - Trak.in - Indian Business of Tech, Mobile & Startups trak.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from trak.in Daily Mail and Mail on Sunday newspapers.
Zee to reduce workforce by 15% to cut costs afaqs.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afaqs.com Daily Mail and Mail on Sunday newspapers.
Morning market: Sensex, Nifty open lower ahead of RBI's policy decision thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.