The Kenya Union of Journalists (KUJ) has warned listed media company Standard Group against intimidating some of its radio department staff who have been on strike over unpaid salaries dating back up to seven months.
- According to the union, radio department staff members went on strike on Thursday June 28th by staging a walkout from their workstations.
- According to the same statement, the company’s managers then resorted to threatening the staff members with termination in a bid to force them to return to work.
- In its financial results for the year ended 2023, Standard Group PLC registered a loss of KSh 1.26bn after tax, and the company has been in the news over salary delays and unpaid SACCO contributions.
“It has been brought to our attention that the insensitive managers of Standard Group PLC, who have subjected their staff to untold sufferings for more than a year now, have resorted to unorthodox means of getting striking radio staff back to work,” the KUJ Secretary General, Erick Oduor said.
The union had already issued a 14-day strike notice to the Ministry of Labour and Social Protection to demand payment of the staff’s salaries and sacco dues.
The Big Picture
Traditional media houses are still struggling to turn their fortunes around due to diminished advertising and declined product sales. The Nation Media Group announced a loss of KSh 205.7 million in the year ending 2023, and is currently laying off some of its staff amidst a major restructuring.
- Standard Group PLC recently announced to its stakeholders that it needed to raise KSh 1.5 billion through a rights issue.
- The move was meant to achieve a commensurate level of equity capitalization that would strengthen the company’s balance sheet.
- The listed company maintained a share price of KSh 6.76 as markets closed on Friday last week.
Standard Group intends to broaden its scope in thee digital market, a move that could see a roll-back in cost-consuming initiatives and operations. The gamble could salvage the ailing company, but it would need to explore content modes that would elevate its fortunes.
“With the new strategic plan and digital first orientation, we are optimistic the business will be well-positioned to tap new market opportunities and deliver enhanced value for our stakeholders in the new year,” the company stated recently.
