Media Prima Will Axe 300 Employees By End Of July
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Around 300 employees will be laid off in the latest retrenchment exercise by Media Prima, according to reports.
Their last day of employment will be on 31 July.
The media giant announced earlier this month that they will undergo a business transformation as they’re trying to adapt with changes within the media sector and the economy which has been made worse by Covid-19.
It involves operational changes at selected units to address cost inefficiencies arising from work duplication. The business transformation is aimed to land the group on a robust and sustainable business model for the medium and long term.
Media Prima via Bernama
In March, the company axed 543 staff members which affected their newspaper companies – New Straits Times, Berita Harian and Harian Metro.
Their bureaus nationwide were cut down or merged as a result.
Even before the pandemic, Media Prima has been posting losses since the third quarter of 2016, with a few exceptions – the fourth quarter of 2016, and the second and fourth quarter of 2018.
In 2018, Sistem Televisyen Malaysia Bhd – a subsidiary of Media Prima and also the operator for TV3 retrenched around 190 employees and offered Mutual Separation Schemes (MSS) to 43 others.
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