Mass retrenchment at Radio Africa Group
A few weeks ago, Media Max Group retrenched over 160 staff members and now the same is about to happen to Radio Africa group as the country’s economy keeps getting worse each day.
Radio Africa group wrote to its staff members stating that a decline in the revenue has forced management to cut on some of the jobs.
It is said that revenue from advertisements had dropped by over 30 per cent which has been attributed to evolution of digital media and adverse economic situation in the country.
The company has thus decided to restructure its departments and roles. The employees who will be affected then have one month period after which they will be redundant.
The compensation is one month’s pay in lieu of notice and severance pay at the rate of 15 days pay for each year of service.