Nation Media(NMG) to fire more than 100 employees due to a roaring revenue reduction

Nation Centre File

Nation Media is set to fire more than 100 employees over tough economic times.


In a statement released on July 1, the media house is positioning itself and restructuring in a move to evade the company from making losses.


There will be a massive layout at the Nation Centre as COVID-19 eats its revenue sources.
 

According to sources, Bana Digital has learnt that the majority of the employees on the list are cameramen, support staff, and Presenters both on TV and its affiliate Radio stations.


The company said it was going through hard times due to the effects of Covid-19 on the economy.


“This pandemic has resulted in global uncertainty and unparalleled challenges impacting most businesses adversely, " its stated.


"Many companies have either shut down or substantially scaled-down operations due to the drastic decline of revenues, " added.

"The media industry has not been spared with media houses globally including NMG, having been severely impacted,” the statement read in part.


“In this journey, the Group seeks to be innovative, agile and adaptive to take up leadership in the mobile publishing landscape In Africa. This will include focusing on resourcing people in new areas critical for the Group as it moulds itself to win in the future, " stated.


" Regrettably, this will result in a reduction in our workforce. This Is an extremely difficult decision given the prevailing circumstances,” added the statement.