Job cuts at Malawi media giant: Times Group lays off 68 workers due to poor economy
Malawi media giant, Times Group, has announced retrenchment of over 60 employess due to economic hardships the country is facing impacting on the private sector.
The high-flying media house with interests in three national newspapers, national television station, national radio station, commercial print house, publishing house, courier service and an advertising agency, confirmed on Friday that about 60 positions will be cut.
“As a business largely propelled by imported raw materials, the depreciationof the dollar from MK450 to MK750 in the last 24 months, has created a hostile economic weather that is unforgivingly unhealthy to sustain our growth drive,” the company founded in 1895 said.
Times Media Group boasts of chain of companies including titles namely; The Daily Times, Malawi News, Business Times and The Sunday Times.
Managing Director for the Company, Leonnard Chikadya, said he regretted that the company has in the last six months engaged in detailed business and structural analysis to create efficiencies in its operations with the view to harvest savings and one of the products of the analysis is the realignment of the Human Capital Strategy and consolidated skill base.
“Resultantly, Times Group has taken a decision to resize and reorganize its organizational structure with the view to balance the business sustainability,” it said in a statement emailed to Nyasa Times.
“We remain committed to ensuring that all mandatory and legal requirements are strictly complied with during this process and we further commit to consider the affected Members of Staff as a priority recruitment catchment area should the economic space improve. We are positive this may happen soon to minimize the economic hardship of those dedicated members.”
The retrenchment will not affect the delivery of Times Group highest quality standards , the company assured.
Journalists commenting on the development on Facebook said retrenchment is not new at Times Group
“The strategy is now a familiar occurrence happening almost annually from around 2007 ,” commented James Mphande.
Another journalist Suzgho Khunga added that actually “ its been annual from as far back as 2004.”
Commening , former Times Group editor Idriss Ali Nassah wrotes: “This must be hard, on both the company and the workers. No doubt, its going to be much harder for the workers, in face of the new pension law that restricts what one can get back. I am sure management had no other choice but take this drastic measure. The bleak national economic outlook hasn’t been kind on many companies, and the print industry is no exception. Whats worse, most of the material used in printing the newspapers, for example, is imported…from ink, plates, newsprint etc. These are tough times all round.”
Before the retrenchment one of the editors Brian Ligomeka tendered his resignation.
Veteran sports editor and columnist Duncan Mlanjira was also rendered surplus to requirements in the newsroom before the job cuts.
Others who have lost their jobs in the newsroom include Gregory Gondwe Mtchindi Meki, Adam Phiiri and Tadala Kakwesa.Follow and Subscribe Nyasa TV :
9 retrenchments in 9 years of your stay at Times Group. Mr Chikadya accept that you have failed and allow a fresh pair of hands to run the company. Don’t wait for the board to fire you, if at all there is a board. You have destroyed the careers of many up and coming journalists because of your faith in retrenchments.
A BOMA PANGANI MAGETSI A SOLAR OR A COAL MWAMSANGA OTHERWISE MORE INDUSTRIES ARE GOING TO CLOSE DUE TO SHORTAGE OF ELECTRICITY THE GOVERNMENT MUST START TO ACT NOW
Save the 68 jobs by cutting 50% of the salaries for Dumi, Sungani, FC, Chikadya basi zokwana, osachotsa anthu nthawi ya njala akadya chani, achuluka kuti nation newspaper and Zodiak to employ them. Chonde chonde
Chikadya waonjeza ngongole for Times. Pachipanda kuti National Bank ndi ya MCP bwenzi Times itatsekedwa kalekale. This prado TIMES 95 ndi yangongole. Ngongole za Malawi ma 50% ngati katapila eish. Kugula radio ndi ngongole. Ma salary ama employees ngongole za bank. MAVUTO.
CHIKADYA MUST GO. He has created ngongole zambiri to Kamuzu Family.
Sad, very sad indeed. Please reduce obscene fat salaries/allowances to save a few jobs. Nanga anthuwa apita kuti abale. Other Media Houses cannot absorb any more employees. In fact they are probably considering Lay-offs as well.
wolandira ndalama zambiri ndi inu mukutsala wosachoka inuyo anawo azigawana ma changewo so bad a chikadya mwachotsa anthu ambiri by now mukanangochoka ndi inuyo ena ayesepo nzeru zawo
Times Television News has gone really bad since Gracian Tukula left. Mr Chikadya look into this seriously. The TV news does not inspire confidence
Chikadya has failed, he must be the first to leave the organisation. This entity has gone from bad to worse during your tenure, There is no job satisfaction at Times Group employees are always afraid of their fate, John Maxwell said this in one of his books, Everything lies upon leadership. You have failed to manage the entity, Its high time you give a chance to new blood.
Business are retrenching due to kwacha depreciation, reserve bank said a while ago that they are suprised businesses are still operating, well this is your answer, when business close they first retrench and then close so we are getting there. this depreciation has brought the economy on standstill. it has been ovderdone and now it is hurting the economy, it has been very immature and trial and error policies now we are in a hole which we cannot find a way out. currently the kwacha is not free floating there are limits in place,thats why it has overdepreicated, it should… Read more »
severance two wks for the first 5 years, 3 wks for 6 to 10 yrs, four wks above 10years, 50,000 severance is tax free. in calculating severance we add all earnings like telephone ngati umalandila, fuel etc. pension tax free. good morning