Times Internet recognizes staff contributions amid restructuring

A spokesperson from Times Internet has released a statement acknowledging the contributions of the affected employees, highlighting their valuable role within the organisation. The statement indicated that every impacted employee, regardless of their tenure or contractual status, will receive full severance packages.

The statement said: "Streamlining our operations will result in reducing about 5% of our workforce, each of whom has made important contributions. All affected employees are receiving full severance irrespective of tenure or contract with the company. Whilst it is difficult to part with talented colleagues and friends, this one-time exercise is also the right and necessary decision towards building a strong and sustainable business.”

The development should be seen in the backdrop of the recent break-up of the Jain brothers, Samir and Vineet Jain, who were previously at the helm of the company. This separation marked a significant shift in the leadership structure of Times Internet, and it is believed to have contributed to the company's current restructuring efforts. The details surrounding the break-up remain mostly undisclosed, but it is clear that the company is now navigating a transitional period under new leadership as it strives to navigate the challenges and opportunities of the digital age.