Television Continental (TVC), a broadcast television station owned by former Lagos state governor, Bola Tinubu, has slashed its staff salaries.
The Chief Executive Officer of the company, Andrew Hanlon, who disclosed this in a broadcast message to the staff on Monday, said the station is being managed carefully since the coronavirus outbreak.
“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”, he said.
Hanlon said that staff earning N80,000 will get a 5% reduction, those earning between N80,000 and N200,000 will get a 10% cut.
More so, 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,” he said.
He said Pension, transport, accommodation allowances remain the same without any cut.
KanyiDaily recalls that Nigeria’s former Vice President, Atiku Abubakar sacked 46 staffs from his media outlet company, Gotel Communications.