The Nation Media Group has announced plans to reduce its staff as part of its plans to adopt and benefit from the new digital dispensation that is driving traditional media out of business.
In a media release shared with the staff and the public, the giant media house has admitted struggles in the market and part of its
The release dated June 7th, 2024, and signed by the group’s Chief Executive Officer Stephen Gitagama has asked the staff to remain, calm, and continue supporting each other as the company navigates hard times.
“As you are aware, the media landscape is undergoing rapid transformation: Changes in audience consuming habits, technology, and other macro-economic factors have disrupted business models across the world,” the release reads.
The CEO has indicated that the media group has also grappled with emerging challenges as a result of reduced earnings from traditional platforms occasioned by emerging digital disruptions.
“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 14th 2024,”
The management has acknowledged that the decision is extremely difficult and has offered to help staff who will be affected to transition.
Affected staff will get exit benefits as per the stipulated policies,get psychological support through the group’s counseling service providers, relocation assistance for those outside Nairobi, medical cover extension until December 31,2024 and a negotiated opt-in medical insurance scheme.
The organisation is reeling from effects of reduced advertising in traditional media because of the emerging new trends.
The media group has put in mechanism to remain relevant in the market that is now complicated and offered little in terms of business opportunities.
Traditional media is facing competition from digital podcasts, news blogs and online digital content creators who are now attracting advertisers interest.
MP Kagombe Pleads Not Guilty To Murder Charges, Granted Sh2m Bond
