The layoff wave from the tech world seems to have hit Times Internet now, as the digital arm of the Times Group is laying off over 200 employees.
According to an exchange4media report, about 100 people have already been given pink slips and another 100 will be asked to leave soon. Those impacted belong to various levels and are part of various departments.
The report further says that “five percent of the workforce” is being trimmed to “streamline the operations”.
All affected employees are receiving full severance irrespective of tenure or contract with the company, the spokesperson said.
About Times Internet
Times Internet is part of media conglomerate Bennett, Coleman and Company Limited, which owns The Times of India, Navbharat Times, The Economic Times, among others. Times Internet’s portfolio includes the websites of The Times of India, Navbharat Times, The Economic Times, sports portal Cricbuzz, Indiatimes, Gaana, personal finance platform ETMoney, real estate company Magicbricks, among others.