Capital Group Limited, the company behind Capital FM, has announced plans to declare several positions redundant as part of a broader restructuring effort aimed at securing its long-term sustainability.
In an internal memo dated July 25, 2025, Managing Director Symon Bargurei informed staff that the redundancies would take effect on August 25, 2025.
He cited declining business volumes, attributed to changes in consumer behavior, government policies, and increased competition, as key factors behind the decision.
“The media landscape—like many other industries—continues to undergo significant disruption,” the notice read in part.
“Capital Group has not been immune to these changes, and we have experienced notable declines in business volumes.”
Job Losses Loom as Capital Group Issues Redundancy Notice
Although the company did not disclose how many employees would be affected, Bargurei emphasized that the reorganization was strictly operational and not related to employee performance or conduct.
He noted that the decision, though difficult, was necessary to safeguard the company’s future.
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Management had explored several cost-cutting options, including major reductions in non-staff-related expenses, but these proved inadequate to address the ongoing financial and structural challenges.
“To adapt and ensure long-term sustainability and competitiveness, we initiated a comprehensive business review,” the memo continued.
“This evaluation has led to a necessary reorganization of our structure and operations, aimed at better aligning with our revised business model and future strategic direction.”
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Capital FM Staff to Receive Full Terminal Benefits in Planned Layoffs
Employees whose roles are declared redundant will receive terminal dues as outlined in their contracts and in line with the law. These include:
- Salary up to the final working day
- One (1) month’s pay in lieu of notice
- Severance pay: 15 days’ salary for each completed year of service, less any amounts owed to the company
- Payment for accrued but unused leave days
The company assured staff that the process would be carried out fairly and in full compliance with the Employment Act, 2007.
Management and HR teams pledged to be available to answer questions and explore possible redeployment options within the organization.
“We sincerely thank you for your understanding, professionalism, and continued commitment during this time,” Bargurei said.
“We are confident that these strategic adjustments will position Capital Group Limited for renewed growth, resilience, and long-term success.”
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