IMPORTANT UPDATE
While we enourage an healthy debate on the layoffs, please ensure that you don’t make any personal remarks against any individuals or slanderous remarks about the organization. We already have removed some comments, and may have to remove others. You may question certain policies and decisions, but please ensure that you don’t say anything slanderous. Please be civil.
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Original story: High level sources from Bennett, Coleman and Co, Ltd. (BCCL/Times of India Group) have indicated that the group plans to lay off approximately 5 percent of its staff. The layoffs will be across businesses, including print, radio, Television and Internet, and across functions – whether editorial, finance, marketing or IT. In case of print, Times of India alone employs around 1000 people, so around 45-50 will be laid off. Indiatimes also employs around 900 people. Since morning we’ve heard rumours of between 600-1500 in all being laid off…doesn’t appear to be as bad as rumoured.
The layoffs haven’t begun yet, but pink slips will be handed out soon. We haven’t been able to ascertain what kind of a deal they’ll be getting.
From a digital media perspective, it’s important to note that both Times Internet Ltd (Indiatimes) and Times Business Solutions Ltd (TBSL) will be impacted.
We have not been able to confirm whether BCCLs latest television initiative, Economic Times TV (ET-TV) will be put off due to high costs.
The Times of India group is the largest media house in India, with publications including the Times of India, The Economic Times, Navbharat Times, Mumbai Mirror, Maharashtra Times, Bangalore Mirror, radio channels Radio Mirchi, TV channels Zoom nd Times Now, and magazines including Femina and Filmfare. Their online portfolio includes Indiatimes, online remittance business Times of Money, and classifieds businesses Times Jobs, Simply Marry, Magic Bricks. Earlier this year, the Times Group had bought Virgin Radio, which was rebranded as Absolute Radio.
Update: More inputs coming in – from what we’re told, Times Business Solutions Ltd (TBSL), which employs over 1000 people, is among the worst hit by the downturn; there’s a list that’s been prepared for layoffs at Times Jobs, and the number is expected to be upwards of 150.
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38 Comments until now.
around the globe layoffs @ http://www.techcrunch.com/layoffs/
TBSL has Timesjobs.com which employs the largest number of people. Internal reports suggest that sales revenue of Timesjobs.com has dropped to a ravishing 35% of what they were delivering 2 years ago, despite spending huge sums of money in their claim to be the No. 1 job site in India (which actually fell flat and gave an increase to market leaders). Perhaps Times group should relook at their Top management who are leading these businesses including Times Internet. Revenues of Naukri.com and monster.com have also slipped in recent months due to economic slowdown, but timesjobs.com revenue has been clearly dropping for the last 1.5 years and the recent econ. Slowdown is just the last nail in their coffin.
Just heard that 140 people have been removed from Times Internet and also that lot of Private Treaties clients are extremely unhappy with high Times of India.
It looks like that they are pressurising the companies to close the contracts and pay back the money.
Why is the times group launching more and more internet portals? They have so many that are highly paid and do hardly any work. That is the case in most rich portals in India.
Already apprx. 250 people have been removed from TBSL. Maximum of these are from TBSL noida office.
[...] old geezers say that the reported decision by the Times (BCCL) to cut around 5 per cent of its staff is a harbinger of things to [...]
To be fair to BCCL, they are just doing what the rest of the organisations are doing in the market. True, BCCL has an army of highly over-paid, VPs, General Managers, Chief Managers and Senior Managers who sit in the cabins and flog their junior colleauges. This culture has to change if Times has to survive this downturn. TOI is an aggressive organisation, without a human touch. These days of Pradeep Guha were probably the best days of BCCL. PG had a way to motivate people, even though he had a group of cronies around him. The problem with BCCL is that they made huge investments in FM, Internet, Timesjobs without thinking through. They got taken in by the hype of booming Indian economy and now when the entire world economy is tanking, they are feeling the pinch. The cleanup has to begin at the top, as BCCL is a top heavy organisation. The huge number of bosses at the top have to be given the boot, not the poor executives who actually bring home the bacon.
@Sanjay
Poor Timesjobs is in the centre of attention among other Times properties for wrong reasons. Yes, they’ve dipped in revenue. But you need to note that its the group’s only business which managed to generate some revenue.Other internet businesses of the group and most importantly the Times Internet [Indiatimes] weren’t generating any revenue apart from the peanuts in ad revenues.
If BCCL is downsizing Timesjobs [TBSL] , then they should shut down Indiatimes [Times Internet]
Intimes internet Ltd in past six month i have seen more than 120 persons have been laid off.
Most effected is Indiatimes travel where in more then 75 persons have been given pink splips in past zix month
Times Internet lacks leadership and vision…
People are being sacked off….and nobody is raising voice against it……again lack of vision….do smthg that people won’t be sacked….
Wow this really shows how popular the times group really is. All said and done, people still want to work for times, compared with other employers. Samir and Vineet just need to ensure that the right people with the required skill sets are brought on board to run the respective divisions. You cant just shift a person from anywhere to anywhere.
BCCL is a g8 organization to work for, but to face this economic crisis they need to downsize, but this downsizing should happen from top to bottom. It is full of GM’s, AVP’s and other white elephants which if removed then the growth trajectory will be even better.
TBSL need better TOP management people to run portal business… they are just using the brand TOI rather than building their own brand of TBSL…hardly anyone of them have any internet skilled and qualification to run the online business…. lack of vision and clearity of thought does not exist and now they are sacking people who according to them are not productive in their performance…. guys just look at yourself.. do you justify your presence in the TBSL….
can somebody pls tell what is the meaning off pink slip
It’s a slip which inspite of being Pink paints your whole world RED for no reasons of Ur choice!!ha ha ha
No one knows the can of worms it is… as for wanting to work for Times group – well its the case of a spring board to something sensible – they do pay well and their designations are also good places from where jump to even better designations! i rest my case – the faster you go higher – the heavier the thud!! Lets pray for the Times Group!!
The present scenario is really unfortunate. No point in blaming a single company. Needless to say other big companies are facing the same problem as well. It’s evident globally and no one is untouched of this big market failure. Time is to fasten your belts and show extra-ordinary results with less expectation of rewards. Be positive and start thinking of achieving what is asked from you.
Unfortunately TIL and TBSL has launched their new initiative without analyzing the market offering.They both have social networking website.
Moreover they lost the battle by late implementing web 2.0 architecture.
All these mess up is not happening just for the economic situation but also the hiring process they follow to get managers to drive the numbers through the existing sales force.
TBSL should remove the non-performers and the expensive mid-performers from all business lines and keep adding new set of people every quarter.
Each individual should prove its productivity in TBSL.
idiva
itimes
QnA
Absolute Radio
Mocolife
hotklix
@@!#!#$#@# is all this needed on Indiatimes, in the first place? they seem to have no research before launching their products.
I agree with most of the comments here that Times is extremely top heavy (dead mass) and that trimming needs to happen at the top, but alas thats what like most organizations are and especially where such Times employees move on to in their new avtars, they take the legacy along.
There are tons of rumours that Timesnow, Times Internet and TBSL have been busy sacking people. Anything from 20-35% of the people are being given the boot. I heard that Radio Mirchi will be next.
Times has invested a lot of monies into this companies without making a proper financial tracking system for these investments. People have enjoyed themselves all these years in these companies as there was no one to question them and now find themselves in a hot water bath.
Times is a great company and I am sure their managers will figure a way out. The recession is everywhere and why single out TOI for sacking people…which company isnt singling out the non-perfomers anyways? i can sense that most of the comments above must have come from people who have been sacked and have time on their hands to bad mouth their company.
The biggest elephant at TIL is telecom which has no focus at all due to dearth of good leadership.it is bound to be hit badly.its hightime that TILO wakes up and either shuts down telecom or brings in a new leadership change or brings in a new leadership change the biggest sacks and spare the little pouches.
the benevolent co is now sacking people without the tiniest mercies. place which was considered to be a place to rest and retire is now becoming hot spot and no one knows when his turn comes next. i hear that 20% jobs are on the line and not 5%. ha ha. there will now be tons of people in the market from toi companies looking out and good for the other media companies to make good a catch.
The question is… does anyone want people who have spent time at ToI anymore?
ToI used to be the university, Till recently it was STAR and now there isnt anyone big enough left.
hello
For years, have seen in-depth working style of TOP at Times group, Everyone at Higher Level is DAMN & Over busy in SHOW Meetings and clerical Jobs only.
Timesgroup is a Temple but these TOP HUNDRED’s of CEO’s , COO’s , Director’s CFO’s , VP’s, AVP’s, GM’s duly supported by other COTERIE of Managers have spoiled this Great Organisation.
Times Group ##$!@ big time. They don’t have any planning what so ever when it comes to recruitment and its all driven by hell lot of white elephants sitting at the top and doing what ever the Jain brothers ask them to do without using there own brains and than these bunch of sr. Management people who are there from last so many years are living with alot of EGO and big time Arrogance and they are safe and the people who are infact earning the bread nd butter for these bunch of idiots are on the line of fire for no good reasons other than the Poor manpower planning and not the recession.
WELL, YOU CANNT REMOVE TOP MANAGEMENT AT A GO. BUT ATLEAST YOU CAN TRIM THEIR SKY HIGH PACKAGES INSTEAD OF SAKING FRONT LINE OR MIDDLE LINE WHOS FAMILIES ARE DEPENDENT ON THIS JOB. TOP MANAGEMENT SHOULD MOVE FORWARD AND BRAVELY SHOULD SAY AND FIGHT FOR THEIR TEAM BY PROPOSING TO REDUCE THEIR SALARY. IDEALLY NO ONE WOULD DO IT BECAUSE SAB APNI APNI BACHANE MEIN LAGE HEIN. BUT, WITHOUT FRONT END, HOW ONE CAN RUN BUSINESS. ONE SIMPLE QUESTION, ARE TOP MANAGERS READY TO GO TO MARKET AND MAKE SALES CALLS AND GRAB BUSINESS FOR THEIR SO CALLED COMPANY, IF THEY CANNT THEN HOW THEY CAN JUSTIFY SAKING PROCESS? FINALLY, ONE SIMPLE SOLUTION IS THAT TOP MANAGEMENT SHOULD REDUCE THEIR SALARY AND SAVE FRONT END AND THEIR FAMILIES’ HOPE. IF TOP MANAGEMENT IS WATCHING THIS BLOG THEN MORALLY AND ETHICALLY THEY SHOULD PROPOSE THIS SOLUTION AND ASK NOT TO SAKE FRONT END OR MIDDLE END.GOD BLESS TIMES GROUP.
There is something unique about almost all Internet companies. All of them have selfish and shrewd leadership team. In times like this, the senior management should take a cut in their compensation to save few entry level jobs. None of them seems to be doing so.
I think the CEOs should come forward and cut down the compensation by 50% across senior levels including their own compensation. None of them can find a job outside too.
ANY ONE, WHO IS FAMILIAR WITH MEDIA INDUSTRY, VERY WELL KNOWS THAT IN THE NAME OF FICTITIOUS BRAND BUILDING, DURING LAST APPX. TEN YEARS, BOTH JAIN BROTHERS HAVE WASTED MORE THAN 1500 CRORES FOR THEIR OTHER THAN NON-PRINT BUSINESS, INCLUDING INTERNET, TIMES JOB, TIMES MATRI, TELECOM, E-COMM, RADIO, TRAVEL, MUSIC, T.V. ETC ETC ETC. WHAT EVER IS EARNED IN TOI, IS WASTED IN PRIVATE TREATY AND IN NON-PRINT. WITH THIS HEAVY & SICK TOP MANAGEMENT, IN NEXT 4-5 YEARS THIS GROUP MAY FACE CASH CRUNCH. DEAR JAIN BANDHUS, “AB PACHTAYE HOT KYA JAB CHIDIYA CHUG GAYI KHET”.
No doubts on the present slow down but its during this time that Giant Organisations can carry out a Due Diligence on themselves. The time has come where the Group’s Top Management (at the Promotor’s & Executive President’s level) gets onto a crack down mode but certainly not by sacking the brilliant Frontline Salesforce especially in the Print Business & Internal Portals. Instead, the group needs to realise that its indeed high time they replace their absolutely no brainy & highly egoistic, batallion of Sr. Managers/Chief Mgrs/DGMs/AVPs, etc and infuse young blood into the system. Its these people (The Oldies) who have had a parasitic impact on the organisation. Never have they done their jobs nor have they allowed their teams to execute tasks effectively. All that these people have been doing within the Organisation is playing dirty politics against each other. Just hope that this Group with a Big bouquet of Self selling Brands & such a wonderful business model realises this atleast now!!
Its intriguing to see so many people throw muck on the “senior management” on TOI. Seems that when the going is bad, the top is the best thing to blame. I am with an ad agency and I can say that many managers that I deal with do seem very committed to the organisation – far more than junior people who seem mostly interested in negotiating a 50% jump in salary without showing 5% commitment on the job. I am sure TOI was not created by the field sales people. Most of comments seem to be coming from sales people who instead of doing their job are busy blogging and pulling the principal down. Unless the jokers on the front end improve, we will have sick top management people to deal with in next 10 years as these jokers rise in the system.
all this discussion above about TOI sacking people is exciting but come to think of people who will have to face the music..many of them are single bread earners with loans,children expensive education to take care of. What’s more upsetting is that the colleagues these people were working with go and gossip about the layoff and harm their careers….these layoffs are always political games in the company where the top bosses save the people who ‘chato their talwas’
The numbers are much more the “5%”. This is mostly because of poorly unstructured departments.
Do you think TOI (print) will recruit people, even after layoffs?
Any idea on what is the current count of layoffs already implemented?
TBSL has lack of senior management