Delhi, November 27: At a time when several employees working with tech firms had to lose their job and left them with an uncertain future, employees across sectors are scared of losing their jobs. In a move that is likely to leave nearly 300 employees unemployed, Zee Media has decided to shut down Hindi news channel Zee Hindustan, according to a report in exchange4media.
Check Tweet:
A news channel at Nodia having 300+ staffs shuts down & employees' fate hing in pendulum. In fact, TV news didn't have a revenue model ever; it was largely a pseudo PR biz in the guise 'news'. It only sucked money. Advent of digital was the last nail in its coffin. #ZeeHindustan
— सुशांत झा Sushant Jha (@jhasushant) November 25, 2022
Currently, leading national news channel NDTV is also facing acquisition over failure to repay a loan and several reports have said that Adani group may soon hold major shares in the company. Zee Hindustan is said to have done away with several employees already. Alphabet Layoffs: Google’s Parent ‘Prepares’ To Fire 10,000 Employees
The channel operations were being helmed by Shamsher Singh who has also resigned.
Shamsher Singh Resigns:
“सृष्टि- शृंगार - संहार” जीवन के तीन फ़ेज हैं।1. May 2017 जब @ZeeHindustan_ लॉंच हुआ (सृष्टि ) पहली 2 Pics. 2.November 2020 जब Relaunch हुआ ( शृंगार) तीसरी Pic 3.Nov.2022 जब बंद हो गया। ( संहार )आख़िरी Pic. और तीनों फ़ेज मेरे ही हाथों.ओम् शिव🙏 pic.twitter.com/fABpQcB6pQ
— SHAMSHER SINGH (@ShamsherSLive) November 26, 2022
Zee Hindustan's closure comes in the backdrop of two major reasons as cited by the media report. Apart from being financially unviable, the content of the channel is said to be similar to that of Zee News. Layoffs Season: Why Meta, Twitter, Amazon, Other Tech Companies Laying Off Employees All At Once and Why Experts Believe the Worst Is Yet To Come
In December 2020, the channel was revamped under the leadership of then CEO Purushottam Vaishnava. Shamsher Singh was then the Managing Editor.
Employees across sectors had to bear the brunt as companies look for restructuring since COVID-19. According to data from layoffs.fyi, a crowdsourced database of tech layoffs, 1,388 tech companies have fired a total of 233,483 employees since the onset of Covid-19.
(The above story first appeared on LatestLY on Nov 27, 2022 12:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).