New Delhi Television (NDTV) wrote to the Bombay Stock Exchange today informing them that it was “undertaking an internal restructuring to focus on [its] television and digital content”. While part of this plan was “implemented in the last quarter,” NDTV is considering “reduction of [its] workforce up to 25 per cent” over the next month, the company’s statement on the BSE website stated. 

In July, Newslaundry reported that NDTV had laid off nearly 100 employees – without any prior information to the employee – as part of its retrenchment drive. Back then, there was also a discrepancy between the narrative of the employees and the company’s statement.

While the employees claimed it was the company’s financial status that was resulting in layoffs, the company stated that the layoffs were part of a shift in its storytelling techniques to match “international trends”. 

The layoffs that are to come in the following months are part of a “turnaround plan to bring down cost and improve profitability,” according to the statement. However, in the statement issued in the aftermath of the  mid-year layoffs, the company had stated that the layoffs were not just about “cost-cutting”.

In addition, the company also stated that its strategy calls for a “far leaner operation” model, which in turn means “minimising all ancillary businesses that NDTV had expanded into over the last few years”.

Earlier this year, NDTV also exited from at least two of its non-core businesses. In September, the sale of Fifth Gear Ventures, its automobile e-commerce firm, was approved, while in June, the sale of e-commerce firm NDTV Ethnic Retail was cleared, reports said.

NDTV posted a net loss of Rs 22.01 crore in the quarter ending June 2017, Business Standard reported.