This archive report was first published on 29 October 2019.
Mediamax Networks Braces for Massive Layoffs ¶
Mediamax Networks Ltd is on the verge of massive layoffs as the redundancy notice lapses on October 30th. The company has cited a dip in business and loss of revenue streams as the reason for the retrenchment.
According to sources, the company targets 150 employees in the exercise, with the broadcast division, especially K24, expected to bear the brunt. The company's human resources office has called a staff meeting tomorrow at 10am, with attendance being mandatory.
Mediamax is owned by the Kenyatta family, Deputy President William Ruto, and other local investors. The company's media outlets are yet to break even, with Kameme Radio and People Daily being the stable's rainmakers and main sources of salaries.
It is understood that K24 will undergo a major restructuring, with top anchors and newest signings Betty Kyalo and Anne Kiguta expected to be affected. The company is also considering shifting from permanent employment to contracts, with those who survive the restructuring expected to sign new employment terms under the contracting system.
Mediamax will have it easy as its employees, even journalists, are not unionisable. The company's last retrenchment in 2015 cost millions of shillings in paying up for pending leave days, making it take calculated steps this time around.
