Standard Media Group Has notified its staff is of their intention to lay off over one hundred and seventy staffs, the COUNTY DIARY has learned.
In a letter seen by County Diary from the group Chief Executive Officer, it read, “I wish to notify you of the Company’s intention to declare redundant about 170 positions across all the departments.
This had been necessitated by the reasons stated below.The need to realign the organisation structure to be better equipped to deal with the emerging business challenges brought about by regulatory changes.
- difficult business environment.
- Shifting trends media consumption occasioned by technological changes in the digital environment.
- Efficiencies raising from automation of key internal processes.
- Outsourcing of non-core servicesThe Company will ensure the process and selection criteria are fair and in compliance with the provisions of the Employment Act 2007, the Labour Relations Act and current CBA.
All employees who will be declared redundant will be paid as follows:
Payment for days worked until the exit date, Severance pay of 15 days or days indicated in CBA for union workes for every completed, Notice pay as per contract of employment.