Fresh Bloodbath as Struggling Standard Media Announces New Layoffs

The Standard Group PLC, which owns KTN News and Radio Maisha, is preparing for another round of staff layoffs, barely months after the struggling media stable sent journalists packing.

Following the latest development, this will mark the second time in 2023 that the media company has resorted to employee layoffs, with the previous round in March resulting in the termination of employment for a substantial number of journalists.

“This is to notify all members of staff of the Company’s intention to declare redundancies that will affect employees across several departments,” the memo read in part.

According to an internal memo, signed by Acting Chief Executive Officer Joe Munene on Friday, September 1 seen by, the latest round of layoffs is set to claim the jobs of both senior and junior employees.

Standard Media Group Acting Chief Executive Officer and Broadcast Managing Director Joe Munene.


The Standard

According to Munene, the layoffs are reportedly due to a number of factors, including the economic downturn, the rising cost of living, and the increasing competition from digital media.

“This process has been necessitated by the need to restructure the business to adopt a leaner, more efficient structure,” the Acting Chief Executive Officer stated.

He also explained that Standard Group PLC is in the verge of adopting shifting trends in media consumption occasioned by technological changes in the digital environment.

Munene assured the staff that the company will ensure the process and the selection criteria are fair and in compliance with the provisions of the Employment Act, 2007, and the Collective Bargain Agreement (CBA) for union employees.

“The affected employees will be duly informed in writing,” Munene told the staff, noting that the company had no choice but to cut down on expenses.

The Chief Executive Officer assured that all employees who will be declared redundant will be paid for days worked until the date of exit.

“They will receive notice pay as per the Contract of Employment, and payment of leave days accrued and not taken at the time of exit.

“Affected employees will have get their pension dues or gratuity in accordance with the Scheme,” Munene assured.

Consequently, Munene issued a one month notice of the intention to declare redundancy with effect from Friday, September 1.

He also revealed that the company will offer support via private counseling and a free financial management session which will be made available for the affected staff.

“Should you require further information, please contact the Human Resources Manager,” Munene advised the staff.

Kenyan journalists attend a press briefing on Affordable Housing, State House, Nairobi on Wednesday, May 24, 2023.


Source link