Times Internet lays off 350 employees
Times Internet, a prominent player in the digital media landscape, has laid off 350 employees. As per sources close to the development, this decision is a direct consequence of an ongoing internal restructuring post the split up between the brothers and a step towards cost cutting.
Recently Samir Jain and Vineet had finalised their split. With newspapers and Times Internet going to Samir Jain and TV, radio and several other assets to to Vineet Jain.
The newspaper and internet divisions are seeing massive cost cutting. Times Internet has already sold some of its consumer internet products to cut losses.