After streamlining across its TV channels, the TV18 group is reportedly shutting some of its web properties and drastically reducing staff strength
Moneylife Digital Team
Web18 Software Services Ltd, or Web18, the Internet and mobile arm of Network18, has reportedly decided to close several of its web properties and cut down staff strength to just 15%. According to sources, employees were handed over three months’ severance package and asked not to report for duty from 26th August. The web properties that are likely to be shut down includes, in.com and CommoditiesControl.com while others will be kept alive nominally. Moneycontrol.com, the flagship property will be run by a handful of staff, sources said.
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