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BusinessLive reports that two months after Independent Media employees were slapped with salary cuts, the embattled media company has announced voluntary severance packages “to mitigate future job losses”.
This was communicated to staff via email from company CEO Takudzwa Hove on Tuesday. “As a result of the business finding itself in a difficult position due to a number of factors that have affected the print and media industry, all of which have been communicated to you over the past few months, the company wishes to inform staff that we will be opening VSPs (voluntary severance packages),” Hove indicated. The company gave staff who were interested in applying for the first phase until 23 June to submit their applications and said the first round would last until 7 July. In April, the company announced the closure of several flagship newspapers, including the Pretoria News, after the merger of those papers with other titles. The Pretoria News merged with The Star, while the weekend editions of the Argus merged, as did the Saturday and Sunday editions of Isolezwe. Just a month earlier, staff were told they would be paid only 75% of their salaries, with “the balance of 25%” set to be paid later in the month.
- Read the full original of the report in the above regard by Khanyisile Ngcobo at BusinessLive
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