Close on the heels of undertaking various cost cutting initiatives that included the exit of 30-35 people in March, Daily News and Analysis (DNA) is now effecting pay cuts in the range of 5-15 per cent. The pay cuts across the organisation were announced internally by DNA Editor R Jagannathan last week. It may be recalled that DNA had recently reduced its pagination from 42 in July 2008 to 32 pages now.
KU Rao, CEO, DNA, was not available for comments at the time of filling the report.
The effects of the slowdown have been quite harsh on the media. There have been repeated reminders sent to people to keep them aware of how the Indian media industry has been hit by one of the worst slowdowns. All we have been hearing and seeing in the last few months are reports of salary cuts, recruitment freezes and layoffs in various TV channels and print publications.
Even the media behemoths have not been spared – Bennett, Coleman & Co Ltd (BCCL), publishers of The Times of India and Economic Times; NewsX, which is now promoted by Nai Duniya-owner Vinay Chajjlani and former Businessworld Editor Jehangir Pocha; NDTV, which decided to scale down the operations of its NCR-centric English news channel MetroNation Delhi… examples are aplenty.
Daily News and Analysis was launched in 2005 by a Mumbai-based joint venture between the Dainik Bhaskar Group and Subhash Chandra’s Zee Group.