Mediamax Limited that owns K24 TV has announced a pay-cut of between 20% and 50 % of all its staff to cushion the company in the wake of the COVID-19 pandemic.
In a statement seen by Kenyans.co.ke on Friday, April 17, MediaMax announced that it had reached the decision after a meeting by the top leadership. It was decided that it was the best measure to protect the company during the pandemic.
"We have come up with several measures to ensure that we try to sustain and keep the company afloat during this pandemic and to ensure that the business at this stage survives and sustains itself.
"Amongst the proposed measures that will directly apply will be a reduction of between 20 per cent and 50 per cent on Gross Monthly Pay based on job levels effective April 2020," the notice reads.
"COVID-19 infections across the world have hit close to two million and since the announcement of the first reported case in Kenya on March 13, 2020, we have taken various key measures as the organization.
"On the business side, we have seen a continuous decline in advertising revenue since the announcement of the first case in Kenya.
"Our clients have been adversely affected and within a short period of time have had to make difficult decisions regarding their employees and their businesses, including cancellation fo communication and advertising plans," Mediamax explained its decision.
The notice directed all the employees to receive letters from the Human Resource Department confirming the decision effected by the management for the month of April.
Mediamax further announced that the staff whose services were not required during the pandemic would immediately be required to proceed on leave.
"We shall review the situation once normalcy resumes based on revenue, cash flow and the state of the business going forward," the statement added.
"Your commitment and dedication during this difficult period are highly appreciated by the organization and on behalf of the leadership team, I would like to thank each and every one of you.
"Our work ethic will continuously be tested during this period and I would like to urge each one of us to work within the guidelines provided by the CEO, your team leader and HR," the statement concludes.
