K24 Owning Company, Mediamax, Fires 150 Employees in Tough Economic Times

K24 owning company Mediamax Networks Limited is set to send home 150 employees effectively today, 30th October 2019, after releasing a notice announcing that it would be sending home employees in a month on 30th September 2019.

The last one month has been filled with anxiety at DSM Place since an announcement of Mediamax’s intended lay-off was placed in the headquarters’ entrance, reminding the employees every day that their end at the company was nearing.

Mediamax is said to be co-owned by President Uhuru Kenyatta and his Deputy President Dr. William Ruto but not even that has saved the media house from firing employees at rocking economic times.

The firing at Mediamax has resulted in understandable tension with the layoff set to affect the company’s four media platforms which are radio, Television, digital and newspaper.

The media max mass firing will also affect staff in other departments such as administrative and will be based on the redundancy of one’s position in a bid to cut costs.

“Mediamax regrets to advise that owing to the recent economic downturn and loss of its main revenue streams, it shall reorganize its staff structure and abolish some positions as part of its cost-cutting measures,” said Ken Ngaruiya who is the acting CEO in the letter addressed to the county labour officer and staff.

“In view of the above, the services of some of its employees will be rendered superfluous, thereby necessitating the termination of their employment on account of redundancy,” the letter read.

The announced D-day is today the 30th of October 2019 with those that will be sent home expected to receive their constitutional perks expected in circumstances such as theirs.

A number of Mediamax employees have chosen to take an early leave by resigning to avoid being fired which is normally considered as a taint on one’s profile.

Among those known to have resigned since the redundancy notice went public are Mediamax owned People’s daily newspaper reporter and sub-editor.

Mediamax last did a mass layoff in November 2015 when it sent packing the highest number of news editors ever in the country.

Employees who will be affected by Mediamax’s announced redundancy layoff will take home a severance package of 15 days for each year worked in the company which is likely to favour those who have been in the company for longer years.

Employees who have on a high salary at Mediamax and worked for many years are likely to be millionaires after today’s layoff.

Mediamax company owns the free People Daily newspaper, K24 and Kameme television stations and radio stations including Emoo FM, Milele FM, Kameme FM, Msenangu (formerly Pilipili FM), Mayian FM and Meru FM.

The move to lay off employees at Mediamax is said to have been led by the withdrawal of betting firms such as Betin and Sportpesa whose advertising was massive in all Mediamax platforms.

Media max joins the following companies in the firing of employees in 2019 in a tactic seen as to either survive in the market or completely stay out of the economic environment said to be oppressive and unfriendly thanks to the hefty taxes and corruption.

1. Finlays

2. Betin

3. SportPesa

4. Air Afrik

5. Telkom Kenya

6. Stanbic Bank of Kenya

7. East African Breweries Limited

8. East African Portland Cement

9. Ola Kenya

10. Sanlam Kenya

Read Also: 10 Companies In Kenya That Have Fired Employees in 2019