South Africa: Primedia Broadcasting - A Big Broadcast Media Group - To Commence Retrenchment Proceedings
One of the major media services group in South Africa, Primedia Broadcasting - owners of radio stations such as CapeTalk, KFM, 702 and 947 has announced that with would start retrenchment consultations, in consonance with the country's Labour Relations Act.
Primedia says that the parlous state of the economy and the situation with the ongoing Covid-19 pandemic has meant it is experiencing unprecedented pressures, meaning it has to take some drastic action to ensure its continued survival. Primedia's Group acting CEO, Phumzile Langeni, described this as a "watershed moment" saying that his team will ensure the process is managed will absolute sensitivity and consideration.
Langeni said further that they had hoped never to reach the point where they had to deploy this 'sustainability strategy' but that after conducting an internal strategic business review, the company was bound to implement some efficiency and cost-saving solutions.
Primedia executives hope that these activities will help secure a healthier, more sustainable Primedia Broadcasting for the long term.