The Nation Media Group says its retrenchment programme is bearing the intended benefits.
In a release to newsrooms on Tuesday, the company’s head of corporate and regulatory affairs Clifford Machoka said that the organisation will continue with its business convergence strategy as it seeks to remain sound in the 21st century.
“Early this year we embarked on a strategic journey of transforming the group into a modern digital company. In line with this objective, we are satisfied that the process is beginning to deliver intended benefits including the dgiotal division recording the fastest growth in 2016,” read the statement.
NMG adds that it is now entering the implementation phase which will involve re-organisation of all operations to prioritise “our resources and investments in content development, monetisation and innovation in line with the emerging ways of new age media consumers.”
The statement concludes, “Regrettably this will result in a reduction of workforce through job redundancies. This exercise will be undertaken in January with due respect to pour employees and within the provisions of the law.”
In June this year, the group had its first massive layoff which affected several departments.