India Today Group, in a mass layoff, fired 120 employees without prior notice between July 20 and July 24, citing a “restructuring” exercise.
A majority belong to the Hindi website. Cameramen, video editors, graphics, fact-check, data intelligence unit, Aaj Tak radio and other departments were also affected, Newslaundry reported.
One employee, who spoke to the online news media company, was working in TV Today Network’s office in Noida Sector-16. “I had just half an hour to complete my shift. The HR called me and told me to go to their cabin,” the employee said.
Babita, his manager and the HR representative were present. And then they broke the news – Today is your last day. Please submit your resignation along with your laptop and ID card.
Shocked, the employee asked whether there was any problem with the work and why they were not informed in advance. “No, no shortage in your work. We’re restructuring,” said the HR.
The same explanation was given to most fired employees. While many resigned at the department’s insistence, those who refused were terminated. If that was not enough, they were asked to write the reason for resignation. Many explicitly wrote asking them to resign on management’s behalf, their anger and frustration visible.
Some had just joined the company, and others had been working for more than two years. Many workers whose monthly salaries are around Rs 25,000 to 30,000 have been laid off.
Employees who resigned received two months’ full salary in advance, and those who resisted were paid only two months’ basic pay before being asked to leave.
The layoffs come at a time when the India Today Group has reported a sharp decline in its financial performance. In the last financial year, the company’s annual net profit fell by 81 per cent to around Rs 14 crore, while its revenue declined 19 per cent to nearly Rs 807 crore. According to reports, lower advertising revenue, restructuring costs and losses from its radio business were among the key reasons for the decline.
Among the 120 people, several had been associated with India Today for more than a decade. “I gave more than 13 years of my life to this institution. But not even given a chance to meet my own comrades. I didn’t feel like meeting anyone myself after the attitude HR and the manager took. I quietly returned home. Not so much neglect was expected from the institution to which youth was given,” another employee was quoted by Newslaundry.
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