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The New Age reports that looming retrenchments at the Times Media Group may leave 65 employees without jobs in two months.
Group MD Andrew Gill confirmed on Thursday that the company was considering a restructuring of its media division operations due to “unfavourable market conditions”. Retrenchments would affect workers at its major titles, including Sunday Times, Business Day The Times, Financial Mail and Sowetan. The company, which has 1,311 employees, has already retrenched 40 employees in the past 12 months. If the proposal to restructure is implemented, the company will integrate the reporting, photographic and production streams into a seven-day a week process that incorporates digital. Employees have been given the options of taking voluntary retrenchment or early retirement. Packages will amount to two months’ notice and one week’s cost to company for each completed year of service. Consultative processes are expected to be finalised by 1 September.
- Read this report by Lillian Selapisa in full on page 2 of The New Age of 1 July 2016
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