Pay cut –City media station Capital FM has announced a 40 percent pay cut to all employees to start this December.
The heartbreaking move was announced in a meeting held this week and presided over by Managing Director Feisal Baghazal.
“We will take a salary reduction 40 percent. If you earn sh 100 you will get sh 60 only. This is something we cannot argue about,” Baghazal announced.
He also cited a tremendous drop in advertisement revenue which every media house depends on for their sustainability.
In his Friday November 11 morning meeting, the MD clarified that no one was being victimized in the salary cuts since it is going to cut across board.
Since the death of the owner, Chris Kirubi, the once giant media station that used to hire who is who in the media industry has found itself in a financial crisis and quickly shrinking into shadow of former self.
