Radio Africa is set to fire some staff.
The uhurunomics is continuing in earnest.
Radio Africa Group is owned by Ghanaian Patrick Quarcoo, who is the co-founder and CEO.
The group owns six Kenyan radio stations: Kiss 100, Classic 105, Radio Jambo, X FM, East FM and Relax FM
Below is the letter converted to text.
Dear All,
RE: INTENDED REDUNDANCIES
In the last four years, the media industry in Kenya and worldwide has undergone radical changes. Many media houses are struggling to maintain revenue through the traditional print and broadcast models. Some have closed down operations, repositioned and restructured operations.
The main source of revenue for media houses is advertising, which due to the evolution of digital and adverse economic circumstances has seen a reduction in total client spend. Most signcantly over the past year we have seen advertising drop by over thirty percent in some key media segments.
We are five months into our new financial year and we continue to experience a downward pressure. total revenue. We are now forced by the changes in the advertising markets to transition from our old media revenue model . This now requires a phased restructuring of our business which may include reorganization of job positions, job roles, as well as operational and divisional structures in the company. In accordance with the provision of section 40 of the Employment Act, No I I of 2007, Radio Africa Limited hereby gives one (1) month's notice of the intended redundancies.
In line with the current HR handbook, Radio Africa Limited shall give the employees declared redundant one (I) month's notice or, alternatively, pay one (I) month' salary in lieu of notice and a severance pay at the rate of (15) fifteen days pay for each year of service. Further the affected employees will be paid up to and including the date of termination all statutory dues.
Yours sincrely,
Patrick Quarcoo GROUP CHIEF EXECUTIVE OFFICER Radio Africa Limited.