The Nation Media Group (NMG), considered the largest media firm in the region, has announced plans to slash salaries for its employees, a move that seeks to cushion the media house from the impacts of COVID-19 that has seen business across all sectors take a dip, revenue-wise.
According to a statement signed by NMG Group Executive Director, Stephen Gitagama, there will be a temporary reduction in the pay for all staff earning a gross monthly income of KSh50,000 and above, ranging between 5% and 35%, depending on earnings.
The Group further reports that its Board of Directors has also taken a reduction in their Director’s fee.
The salary cuts will take effect from 1st May 2020, and will be reviewed every three months subject to the company’s performance.
This comes barely a week after Mediamax company also announced plans to slash its employees’ salaries by between 20% and 50% before taxes and other deductions, which will take effect on their April salaries.
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