Kenya’s Mediamax Announces New Round of Layoffs
Mediamax Network Limited, the media group behind K24 TV and the People Daily newspaper, is set to reduce its workforce in a significant restructuring effort. This marks the sixth round of layoffs for the company in the past four years, signaling ongoing challenges within the Kenyan media landscape. While the exact number of employees affected remains undisclosed, the company attributes the decision to evolving consumer preferences, increasing digital disruption, and what they describe as restrictive government policies.
Restructuring Driven by Economic Headwinds and Digital Shift
According to an internal memo from Mediamax CEO Ken Ngaruiya, the company’s decision is driven by a combination of factors. These include a difficult macroeconomic climate, the rapid acceleration of digital media consumption, and a substantial decline in sales. Ngaruiya stated that these pressures have necessitated a fundamental reassessment of Mediamax’s current business model. Affected employees will receive a severance package that includes salary for days worked, payment in lieu of notice, accrued leave compensation, and severance pay calculated at 15 days for each year of service, after deduction of any outstanding debts owed to the company.
Mediamax’s situation reflects a broader trend within Kenya’s media industry, where companies are struggling to adapt to dwindling advertising revenues in the face of digital competition. The move highlights the urgent need for media organizations across Africa to innovate and find sustainable business models in the evolving digital age.
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