The standard group Media is on its profit brick. The SG Media is looking forward to easing its wage load at the beginning of next year following tough economic times.
The shocker comes after Mediamax showed doors, 160 employees, following economic tribulations.
Dwindling revenues associated with the country's tough economic conditions have hit The Standard, Group which houses KTN and KTN News and Radio Maisha. Retrenchment is said to begin in January 2020.
The exercise will see off approximately 200 employees from the media company. A senior manager expressed to ban media (BNC) on December 17, 2019, that the company was planning to let go of a number of its staff as it repositions itself.
The media company is reported to have commenced the convergence of different sections of its brands and shed off the redundant workforce.
" As a company, we've tried everything, we looked at all the conditions including economic conditions and tried to minimize the effects of the proposed redundancy. We have followed all the due legal processes to ensure that the redundancy effect and the process is done in the best way possible."
"It's been a difficult one month for everyone and it doesn't go unnoticed," explained Mediamax acting CEO Ken Ngaruiya.
" What I also hear at Standard group is the same case here. NMG in 2017 had to restructure to survive, we restructured ours in 2018-2019. SG is next. NMG had to do away with Qtv, Ntv2 Uganda, and other subsidiaries. We have to combine ours too. I believe SG will go the same way, " he added.
 |
| SG to lay off its employees from January. 2020. PHOTO | BNC |
The shocker comes after Mediamax showed doors, 160 employees, following economic tribulations.
Dwindling revenues associated with the country's tough economic conditions have hit The Standard, Group which houses KTN and KTN News and Radio Maisha. Retrenchment is said to begin in January 2020.
The exercise will see off approximately 200 employees from the media company. A senior manager expressed to ban media (BNC) on December 17, 2019, that the company was planning to let go of a number of its staff as it repositions itself.
The media company is reported to have commenced the convergence of different sections of its brands and shed off the redundant workforce.
" As a company, we've tried everything, we looked at all the conditions including economic conditions and tried to minimize the effects of the proposed redundancy. We have followed all the due legal processes to ensure that the redundancy effect and the process is done in the best way possible."
"It's been a difficult one month for everyone and it doesn't go unnoticed," explained Mediamax acting CEO Ken Ngaruiya.
" What I also hear at Standard group is the same case here. NMG in 2017 had to restructure to survive, we restructured ours in 2018-2019. SG is next. NMG had to do away with Qtv, Ntv2 Uganda, and other subsidiaries. We have to combine ours too. I believe SG will go the same way, " he added.
إرسال تعليق
What is your say on this