New Delhi: Rumours are rife in the media industry that TV Today Network is planning for a biggest lay-off . If the rumours are to be believed , the group will lay off upto 150 employees from its four news channels including Aaj Tak, Headlines Today,Tez and Delhi Aaj Tak.
Sources said the group will lay off additional staff being considered as non profitable asset from editorial,PCR,NCR, marketing ,editing ,IT and other sections. The lay off will include both junior and senior level employees.
Earlier cost cutting measures were also implemented in groups print media brand Mail Today.
TV Today Network has dipped 7% to Rs 79 on reporting 13% year-on-year (yoy) drop in its standalone net profit at Rs 6.36 crore for the fourth quarter ended March 31, 2013 due to lower operational income. The company had reported a profit of Rs 7.33 crore in a year ago quarter.TV Today Network had posted a pleasing 16 per cent rise in its net profit in the year ended 31 March 2013. However, its Q4 2013 net profit has fallen 13.3 per cent against the corresponding previous year’s Q4-2012.
TV Today Network has been one of the more efficiently run news organisations in the Indian news broadcasting sector . Sources said the lay-off is party of network’s strategy to bring down the losses.