The India Today Group has reportedly laid off around 120 employees between July 20 and July 24 as part of what the company described as a restructuring exercise. According to a report by Newslaundry, the affected employees were allegedly dismissed without prior notice, with the Hindi digital division accounting for the largest share of the job cuts.
The layoffs also impacted several other departments, including camerapersons, video editors, graphics, fact-checking, the data intelligence unit and Aaj Tak Radio.
One employee told Newslaundry that he was summoned to the Human Resources (HR) department shortly before the end of his shift at the company's Noida Sector-16 office. During the meeting, he was allegedly informed that it was his last working day and was asked to submit his resignation along with his laptop and identity card. When he questioned whether there were performance-related concerns, HR reportedly clarified that the decision was part of an organisational restructuring.
The report claimed that many employees were persuaded to resign, while those unwilling to do so were terminated. Several employees also alleged they were asked to state the reason for their resignation, with some mentioning that they had resigned at the management's direction.
Those affected reportedly included both recent recruits and employees with more than a decade of service. According to the report, staff earning around Rs 25,000 to Rs 30,000 per month were among those laid off. Employees who resigned allegedly received two months' full salary, while those terminated were paid only two months' basic salary.
The layoffs come amid a sharp decline in the media group's financial performance. Reports indicate that its annual net profit fell 81% to about Rs 14 crore, while revenue dropped 19% to nearly Rs 807 crore in the last financial year, reportedly due to lower advertising revenue, restructuring costs and losses in its radio business.
