The Standard Media Group has broken its silence amid heightened pressure over reports of mistreatment of employees.
In a statement on Thursday, November 9, the media company blamed its constraints on
challenges including debts.
According to the company, “significant” pending bills have affected its operations and hence the challenges in meeting its operating needs, including salaries.
Further, the Standard Media company cited the prevailing challenges in the business
environment as among the factors compounding its situation.
However, in the statement, the media firm assured that plans were in place to address the
challenges.
“The Standard Group PLC has stayed focused on its product innovation and diversification
agenda aimed at driving revenue generation and ensuring business profitability,” the statement read in part.
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Standard Group outlines strategy
As per the statement, Standard Group’s management has been strategizing on how to solve
challenges including the one of pending bills owed to the company.
In addition, the company has been working to reduce its operating costs and enhance efficiency in its model.
The company further affirmed that it was making major strides towards recovery with various initiatives.
Standard Group’s statement came on the back of a widespread conversation sparked by reports of a journalist who contemplated suicide.
In a message leaked from the company’s communication channel, the employee had
complained of delayed salaries.
The message triggered reactions as Kenyans from different quarters including the Kenya Union of Journalists weighed in to defend the journalists working in the company.
However, the group, despite being among the pioneers in Kenyan media, has been hit by economic constraints lately.
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Constraints Wreak Havoc on Kenya’s Media
Currently, the company has several media outlets under its umbrella including The Standard newspaper, KTN News, KTN Home, and several radio stations.
On several occasions, the company has announced mass layoffs, a trend attributed to attempts to restructure the media empire.
The company also lost some of its most popular staff members to competition further
compounding their challenges.
However, the economic constraints are not unique to the Standard Group, as far as Kenya’s
media is concerned.
Several other companies have been forced to restructure their organization to keep afloat.
Changes in media consumption and the ravaging pandemic of Covid 19 have been mentioned as among the leading contributors to the situation.
