Barely two weeks after Media24 announced it would be discontinuing some of its publications, resulting in over 500 jobs likely being lost – Primedia Broadcasting is going in the same direction.
In a statement issued this morning, the group said the retrenchment decision was a watershed moment brought about by the economic impact of the global coronavirus (Covid-19) pandemic.
“As with many other industries and businesses, the negative impact of the pandemic has worsened an already weak trading performance and left Primedia Broadcasting with some tough decisions to make,” Primedia told The Citizen.
They say their management team embarked on an extensive programme of cost containment over the past 12 months to reduce operating costs as far as possible in response to the revenue pressures.
As owners of popular radio stations 702, CapeTalk, Kfm and 947, Primedia says it is now in the process of retrenchment consultations in accordance with section 189 of the Labour Relations Act.
“The consultation process which has been initiated now will involve most divisions, with Primedia Broadcasting expected to be the most affected.
“The number of roles that will be impacted by the repositioning of the business will only be confirmed through the consultation process,” they said.
“702, KFM and Cape Talk radio stations are part of our long-term business strategy to ensure that we continue to engage with our audiences in a way that matters to them, and all programming continues as normal.”
The broadcasting entity said they were committed to managing the process with sensitivity and consideration to all affected.
Since the advent of the Covid-19 outbreak, a number of South Africa publication houses have taken a blow, such as Associated Media Publishing.
The owners of Cosmopolitan, House & Leisure and Good Housekeeping were the first casualties of the pandemic and close its doors permanently on 1 May 2020 – bringing to an end their almost 40-year-long history