Standard Group Announces Mass Layoffs

The Standard Group, a Kenyan media company, has announced mass layoffs of employees across all departments. The move is part of a restructuring effort to make the company more efficient and adaptable to the changing media landscape.

In a memo to staff, CEO Joe Munene said that the layoffs were necessary to “ensure the long-term sustainability of the company.” He also said that the company would be providing severance packages and outplacement services to the affected employees.

The Standard Group is not the only Kenyan media company that has announced layoffs in recent years. Other media companies, such as Nation Media Group and Royal Media Services, have also had to lay off employees due to declining revenues.

The decline in revenues is being attributed to a number of factors, including the rise of digital media, which has led to a decrease in advertising revenue. Additionally, the Kenyan economy has been struggling in recent years, which has also hurt media companies.

The layoffs at the Standard Group are a sign of the challenges facing the Kenyan media industry. The industry is undergoing a period of rapid change, and media companies are struggling to adapt. The layoffs are likely to have a significant impact on the media landscape in Kenya.