Mediamax Network Limited, the parent company of K24Tv has written to all staff on the impending restructuring.
In August, this site broke the news as below
Here is a letter that thr CEO Ken Waruiya wrote declaring redundancies.
RE: INTENDED REDUNDANCIES
Mediamax Network limited regrets to advise: that owing to the recent economic downturn and loss of its major revenue streams, it shall reorganize its staff structure and abolish some positions as part of its cost cutting measures.
In view of the above, the services of some of its employees will be rendered superfluous thereby necessitating the termination of their employment on account of redundancy.
In accordance with the provisions of Section 40 of the Employment Act, No. 11 of 2007, Mediamax Network Limited hereby gives one (1) month’s notice of the intended redundancies.
In line with its current HR Policies, Mediamax Network Limited shall give the employees declared redundant one (1) month’ notice or, alternatively, pay one (1) month’ in lieu of notice and pay a severance pay at the rate of 15 (fifteen) days pay for each year of service.
Further the affected employees will be paid their salary for the period up to and including the date of termination and all accruing benefit, including any leave days earned but not taken.
Mediamax Network Limited
CC: All Staff
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