Mediamax, the home of K24 TV, People Daily and Milele FM has announced plans to slash employee salaries by between 20-50 percent.
Mediamax also owns KamemeTv, Emoo FM, Kameme FM, Msenangu (formerly Pilipili FM), Mayian FM and Meru FM).
In a statement to its staffers, Mediamax said that the effects of Covid-19 pandemic had eaten into the company’s profits, which relies heavily on advertising.
“We have consulted extensively and held several meetings with the leadership team and the board of directors to find ways and methods to sustain and keep the Company afloat during this pandemic. We have come up with several measures to ensure that we try to sustain and ensure that the business at this stage survives and sustains itself. Amongst the proposed measures that will directly apply to employees will be a reduction of between 20% and 50% on Gross Monthly Pay based on job levels effective April 2020,” read the statement in part.
This comes at a time the company has sent a number of its staffers on compulsory leave, in a bid to reduce operating costs.
The company has however promised to review the situation once normalcy resumes based on revenue, Cashflow and the state of the business going forward.
“Due to reduced level of operations due to the COVID 19 pandemic it has become necessary to request staff whose services are not required during this period to proceed immediately on leave,” added the statement.
Last year, the company sent home over 160 employees in a bid to reduce operating costs.