Tag: standard-media-group-news

The Standard Media Group has announced a redundancy plan that will impact over 300 employees across different departments.

CHECK OUT:

https://www.ghafla.co.ke/ke/standard-media-group-denies-reports-on-sti-outbreak-in-their-organization/

In a notice dated July 31, 2024, the Board stated that the redundancy will be effective from August 31. The notice highlighted that all affected employees will be informed in writing.

Affected employees will receive payment for days worked up to their departure date, severance pay of 15 days for each year of service, notice pay as per their employment contract, payment for any unused leave days, and pension or gratuity in accordance with the Scheme Rules.

The Board cited the challenging operating environment and its prolonged impact on revenue generation as key reasons for the decision. The shift in media consumption trends, driven by technological advancements and changing consumer preferences, has prompted a reassessment of the Group’s business model.

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https://www.ghafla.co.ke/ke/standard-media-group-ordered-to-pay-sexy-former-cop-ksh-6-5-million/

The reorganization aims to create a leaner, more efficient structure to improve performance and foster growth. The Group is confident that this restructuring, along with new leadership, will ensure business stability and continuity while enhancing the quality of its journalism.

Additionally, the Board plans to streamline its products to better align with the evolving media landscape.

The Standard Group, a Kenyan media company, has announced mass layoffs of employees across all departments. The move is part of a restructuring effort to make the company more efficient and adaptable to the changing media landscape.

In a memo to staff, CEO Joe Munene said that the layoffs were necessary to “ensure the long-term sustainability of the company.” He also said that the company would be providing severance packages and outplacement services to the affected employees.

The Standard Group is not the only Kenyan media company that has announced layoffs in recent years. Other media companies, such as Nation Media Group and Royal Media Services, have also had to lay off employees due to declining revenues.

The decline in revenues is being attributed to a number of factors, including the rise of digital media, which has led to a decrease in advertising revenue. Additionally, the Kenyan economy has been struggling in recent years, which has also hurt media companies.

The layoffs at the Standard Group are a sign of the challenges facing the Kenyan media industry. The industry is undergoing a period of rapid change, and media companies are struggling to adapt. The layoffs are likely to have a significant impact on the media landscape in Kenya.