TV18 lays off 200 employees; technical staff take bigger hit than journalists

TV18 is laying off about 200 people (12% of its permanent employees) and merging its Hindi and English operations ” the decision is expected to yield the company annual cost and interest savings of Rs65 crore. However, TV18 has stated that the discrete identities of the channels would not be disturbed.

The company has said that the restructuring initiative would help it settle debts of about Rs300 crore. It had registered net losses of Rs56 crore in the quarter ended 30 September.

As for the employees, media reports have indicated that those handling technical operations constituted the largest proportion of staff identified to be laid off. It is believed that journalists shall not be significantly affected.

Reports quoting unnamed sources hinted that many laid-off employees are being re-hired on contractual or freelance basis. According to other sources, apparently apprised of TV18's plans, cited in some sections of the media, salary cuts are not being considered by the company.