P
ProfRem
Guest
Continental Broadcasting Service, CBS, owners of Television Continental (TVC), Radio Continental, have relieved 145 workers from its workforce.
It was gathered that reporters of the company located in various States in Nigeria all arrived the headquarters situated at Magodo area of Lagos yesterday, June 1st.
According to the CEO, the mass retrench of workers became imperative because the stations are not commercially viable.
This, it was learnt, was the outcome of Friday’s town hall meeting with the Chief Executive Officer.
“We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental will now become the main focus of our business going forward where we will deliver high quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond. The winding down of TVC News Africa will allow us concentrate on these key areas of our business.
“The CBS Board of Directors has also approved substantial new investment in our staff across the group of companies which will enable us substantially enhance our news and current affairs output on TVC News, entertainment programming on the market leading TVC general entertainment channel and our key radio asset Radio Continental.
“For those staff members affected by today’s announcement the Board of CBS Ltd. has approved a generous severance package in addition to a programme of assistance to enable them seek new employment, “ the company stated.
It was gathered that reporters of the company located in various States in Nigeria all arrived the headquarters situated at Magodo area of Lagos yesterday, June 1st.
According to the CEO, the mass retrench of workers became imperative because the stations are not commercially viable.
This, it was learnt, was the outcome of Friday’s town hall meeting with the Chief Executive Officer.
“We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental will now become the main focus of our business going forward where we will deliver high quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond. The winding down of TVC News Africa will allow us concentrate on these key areas of our business.
“The CBS Board of Directors has also approved substantial new investment in our staff across the group of companies which will enable us substantially enhance our news and current affairs output on TVC News, entertainment programming on the market leading TVC general entertainment channel and our key radio asset Radio Continental.
“For those staff members affected by today’s announcement the Board of CBS Ltd. has approved a generous severance package in addition to a programme of assistance to enable them seek new employment, “ the company stated.
