Nation Media Group has begun parting ways with an estimated 180 employees in a rationalization process that is being described as shocking. “The management of Nation Media Group and I have agreed to a cordial parting of ways,” Mr Mwinzi said in his exit note seen by Business Today. > With Sh205 Million Loss, Nation Media is Facing Tougher OptionsNation Media Group, reeling from a Sh205.7 million loss in 2023, appears to have decided to make more painful cuts to save costs and save itself from sinking further into the red. Nation Media management says it is doing this to survive in the digital environment even as the price of newsprint, a weak shilling and rising costs gnaw at its revenues. “We at the Nation Media Group have also faced challenges as a result of reduced earnings from traditional platforms occasioned by these unprecedented disruptions.”More employees are expected to get their exit letters between now and Friday 14th July 2024.

Source: Daily Nation June 11, 2024 14:03 UTC