TV18 Broadcast Ltd, which runs channels like CNBC-TV18, CNBC Awaaz, CNN-IBN and IBN Lokmat, is sacking over 350 employees in a restructuring exercise that will see it move towards integrated newsrooms.
Company sources said a majority of those being sacked are from the CNN-IBN and IBN7 channels.
“The HR department...simply handed me my termination letter. No explanation was given,” said an IBN7 employee.
Network18 group CEO B Sai Kumar and COO Ajay Chacko did not answer calls.
Sources said that there would be more terminations and the 2,000 staff strength at the two channels would be cut by 25%.
Rajdeep Sardesai, editor in chief, IBN News Network tweeted on Friday: “Hurt and pain can be lonely. You must grieve in solitude.”