CBD-based giant media house Nation Media Group (NMG) has announced a fresh round of mass layoffs, effective June 14, 2024. This is amid the ongoing financial crisis in the company and as a step towards restructuring the media firm to conform to the new digital dispensation of media content. Among those likely to be affected are journalists attached to NTV and the Daily Nation.
“We, at the Nation Media Group, have faced challenges as a result of reduced earnings from traditional platforms, occasioned by these unprecedented disruptions. However, we are cognizant of the immense digital content creation and consumption opportunities that exist not only in Kenya but across the continent.
In order to reap the benefits of the new digital dispensation, we must accelerate that transformation. We must evolve into a leaner and more agile company that will innovate at pace and drive the efficient delivery of services to our customers. This will, unfortunately, necessitate a workforce reduction, effective Friday, June 14, 2024,” reads part of a notice from NMG CEO Stephen Gitagama to staff, dated June 7.
The notice has assured all employees to be affected, of exit benefits as per the stipulated policies, psychological support, relocation assistance, medical cover extension until December 31, 2024, and a negotiated opt-in medical insurance scheme.
Nation Media has previously fired employees in tens in order to make a recovery as the media space takes a deep dive into digital content consumption. It’s estimated that at least 100 employees could lose their jobs with the newly announced redundancy notice.
