Standard Group Set To Fire 170 Employees As Cash Crunch Hits

The Standard Group has announced plans to fire at least 170 employees over cash flow issues.

In a notice dated March 18, 2020, Company CEO Orlando Lyomu issued a one month notice after which the company will start shedding off employees declared redundant.

“The Company, therefore, gives a one (1) months’ notice of its intention to declare redundancy with effect from the date hereof. The redundancy will be undertaken in phase,” reads the notice in part.

“All employees who will be declared redundant will be paid as follows: a) Payment for days worked until the exit date. b) Severance pay of 15 days or days indicated in CBA for union workers; for every completed year of service. c) Notice pay as per contract of employment. cl) Payment of leave days accrued and not taken at the time of exit. e) Pension dues in line with the Scheme rules,” added the notice.

The media house has been losing audience after the exit of big names to rival media houses, Joe Ageyo being a notable exit.

Read: Dennis Itumbi Fired By State On His Birthday

Consequently, its fortunes have dwindled and the media house is unable to sustain quality employees.

Recently, KTN and KTN News, TV stations belonging to the media house lost Alex Chamwada’s two shows over non-payment.

Chamwada terminated the contract for Daktari comedy, the Chamwada Report and Daring Abroad.

Also, Nancy Muthoni, the producer of the weekend Property Show has terminated contract with the media house.

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