MUMBAI: And so the pink slips continue at the Network18 group. Clear signs that the company is trying to bring efficiencies into what was once a bloated organisation. This time the layoffs have happened at  Infomedia 18, the group's publishing arm, which has laid off journos at  Chip magazine today. The journos were given marching orders but were given three months severance pay in order to allow them to tide over until they get another job.

Employees of chip magazine have finally heard what they have been expecting from a long time

"The mood has been depressing since very long and people had started looking out months ago,” says a former employee. Currently, five people were running Chip and all of them were asked to leave. Other magazines such as T3 India, AV Max, could be next in line for layoffs.  Two magazines which have not been affected by the turmoil apparently are  - Better Photography and Overdrive - which reportedly are generating good revenues while the fate of others is in hanging on the ledge, says an industry source.

Infomedia 18 had previously shut down its printing press as well as other assets such as Yellow Pages to cut down on its expenses.
Calls to Network18 group CEO Sai Kumar and IBN Broadcast COO Ajay Chacko went unheeded.