The Nation Media Group on Wednesday released a statement announcing that the company had decided to sack a number of its employees.
Nation Media Group announces mass firings over Covid-19 pandemic
Reports indicate 175 people have been sacked
Reports indicate that 175 employees had been shown the door as NMG blamed the measure on the ongoing global economic crisis.
Head of Corporate & Regulatory Affairs Clifford Machoka explained that the media company had suffered severe challenges due to the ongoing Coronavirus pandemic.
According to the statement, the company had decided to let go of staff to minimize the impact of the pandemic on the company's financial standing.
"Many companies have either shutdown or substantially scaled down operations due to drastic decline of revenues. The media industry has not been spared with media houses globally including NMG having been severely impacted.
"This new reality necessitates the reengineering of NMG to accelerate its digital transformation.
"This will include focusing on resourcing people in new areas critical for the Group as it moulds itself to win in the future. Regrettably, this will result in a reduction of our workforce," the statement read in part.
The NMG layoffs come days after big names at K24 and Citizen TV also announced their departures from Mediamax and Royal Media Services respectively.
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