Royal Media Services (RMS) has announced 20-30 percent salary cuts for its employees as the company takes a hit from the economic ripple effects of the coronavirus epidemic.
In an internal memo, RMS Managing Director Wachira Waruru said the move was aimed at to ensure the company’s sustainability and would only be temporary until the effects of the virus are surmounted.
The media company which operates popular television and radio outlets further announced that it would scale down its operations to allow minimal staff to work on a shift system during the pending curfew that will start this evening.
“With effect from 1st April 2020, all employees will be subjected to 20% to 30% reduction of their gross monthly salary based on their job levels.
“Each staff will be issued with their individual letter through their supervisor. The reduction is temporary and will be reversed when things return to normal,” Waruru’s memo read in part.
The media industry, which relies on advertising for sustainability, is expected to take a major hit from the effects of the coronavirus which has seen numerous sectors of the economy halted.
Most organizations will react to the adverse economic effects by cutting down expenditure with advertising budgets being among the top casualties.
Despite the pain of a salary cut, RMS staff are at a better place compared to their colleagues at Standard Group which announced it would fire 170 members of staff to survive the tough economic times.