Just like Former Vice President Atiku Abubakar’s varsity which reportedly retrenched no less than 400 staff, the Chief Executive Officer (CEO), of the National Leader of the All Progressives Congress (APC), Asiwaju Bola Bola Tinubu’s Television Continental (TVC), Andrew Hanlon, has also reportedly announced the slash of salaries of staff of the organization to cushion the effect of the Coronavirus on the media sector.
In a broadcast message to the staff on Monday Hanlon stated as follows:
“Broadcasters across the world are battling with losses. In order to save jobs and not lay off any staff, I regret to inform you that we’ve been forced to reduce our pay.
“ Staff earning N80,000 will get a 5% reduction, those earning between N80,000 and N200,000 will get a 10% cut.
“Senior staff earning between N200,000 and N400,000 will get 15 per cent while those earning N400 thousand to N1 million will get a 20 per cent reduction.
“The management team and director get 25% cut while the CEO also gets a reduction.
“ Pension, transport, accommodation allowances remain the same without any cut.
THE NATION: PAY CUT
The management has already met with the Nigerian Union of Journalists (NUJ) chapel official to discuss the financial situation of the company and the need for a pay cut to sustain its operations.
It was agreed that there will be a percentage reduction based on the salary scale of the staff with the junior staff parting with the least and management the highest.
The staff are eagerly awaiting their April salary to know exactly how much they will have to sacrifice until the financial situation of the company improves.
