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Standard Media Group Announces Mass Firing Of Employees.

Standard Media Group Announces Mass Firing Of Employees.

 

 

  • The Standard Media Group issued a one-month notice of redundancy to employees across all departments on Friday, September 1
  • Acting chief executive officer Joe Munene cited the shifting trends in media consumption occasioned by the technological changes in the digital environment
  • The company reported a KSh 865 million loss after tax in 2022, attributed to a challenging business environment 

 

The Standard Media Group has once again announced the mass firing of employees in what it described as a restructuring process amid harsh economic conditions.

Standard Media Group news hub.
Standard Media Group has announced the mass firing of employees. Photo: The Standard. Source: Twitter

Standard Media Group, which runs KTN News, KTN Home, Radio Maisha, The Standard newspaper and Berur FM, noted that redundancy will affect employees across all departments.

Why Standard Group announced redundancies

Acting chief executive officer Joe Munene issued an internal memo on Friday, September 1, indicating that the process will adhere to the Employment Act, 2007 provisions.

The struggling media company gave a one-month notice of the intention to declare redundancy with effect from Friday, September 1.

What was Standard Group’s loss?

The company reported a KSh 865 million loss after tax in 2022.

tandard Group director Julius Kipng’etich attributed the loss to a challenging business environment.

“While the operating environment remains uncertain, we remain committed to implementing countermeasures to improve performance,” Kipngetich said.

Why Standard Group clashed with ex-employees

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In March, the Standard Media Group clashed with a group of its former employees over failure to pay their 2020 withheld salary and redundancy package.

The former employees sought the legal services of Turunga Ithagi & Associates Advocates.

They accused the media house of withholding their salaries in the years 2020-2021 in the guise that the COVID-19 pandemic meant they should be subjected to salary cuts.

Twiga Foods fires hundreds of workers

In related news, Twiga Foods announced a fresh round of employee layoffs to cut its operational costs.

The e-commerce food distribution firm said the tough economic environment affects people’s purchasing power.

The company said it continues to adjust and restructure its operations models for improved service delivery.

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