Standard Group has announced it will fire over 300 employees as part of its downsizing.
The media company issued a statement saying the decision was part of its compliance procedures and their impact on revenue. Affected employees will receive written notification effective in September, one month after its issuance on Wednesday, July 31.
“The redundancy notice takes effect upon expiry of the one-month notice issued on 31 July 2024 and is expected to affect more than 300 employees across various departments. All the affected employees will be duly informed in writing.”
Employees affected by the downsizing will also receive compensation packages that include payment for days worked, severance pay of 15 days for each year of service, notice pay as per employment contracts, payment for unused leave days, and pension or gratuity payments as per scheme rules.
“Affected employees will receive the following compensation: Payment for days worked until departure; Severance pay of 15 days’ salary for each completed year of service (or as specified in the Collective Bargaining Agreement for union members); Notice period pay according to the employment contract; Payment for accrued but unused leave days at departure; and Pension benefits or gratuity as per the Scheme Rules and Employment Contract.”
In July, Standard Group employees protested delayed salaries, as presenters from stations such as Spice FM, Vybez Radio, Radio Maisha, and Berur FM reported not being paid from June to August 2023, receiving only their February 2024 payments.
The move is a response to the ongoing challenges in the media industry, driven by rapid technological advancements and changing consumer preferences.
The Standard Group believes that restructuring will better position the company for future success by establishing a more efficient organizational structure.
Concerned Kenyans took to X to share their views on the redundancies amidst the tough economic climate in the country.
“Yaani The standard Media group Plans to lay off more than 300 staff across all its media outlets by the end of August???”
“Y’all are firing 300 employees just like that in this economy? Anyways why did y’all start the standard group talanta academy while your cashflows are in shambles?” Jumuiyan shared.
Y’all are firing 300 employees just like that in this economy?
— Jumuiyan (@Mkenyanese) July 31, 2024
Anyways why did y’all start the standard group talanta academy while your cashflows are in shambles? https://t.co/9msfonnbcp pic.twitter.com/6eGdicynCk
“Standard Group has declared 300 redundancies. Being fired without having been paid for 8 months is painful.” Juma G posted.
