The Standard Group, one of Kenya’s leading media companies, is facing financial turmoil, resulting in the suspension of catering services for its employees.
The company, which owns popular brands such as KTN News, KTN Home, Radio Maisha, Farmers TV, Burudani TV, Spice FM, and Vybez Radio, has witnessed an exodus of talent in recent weeks, with journalists leaving in droves to join other media houses.
The suspension of catering services was announced in a memo from the Human Resource Department, which advised staff to make alternative arrangements for their meals. This latest development comes amid reports that some of the company’s employees have resorted to sleeping in the office due to salary arrears.
The Standard Group’s financial crisis has led to a significant talent haemorrhage, with the competition turning the company into a poaching field. Several high-profile journalists, including Fredrick Odeo Sirari, Frank Otieno, Ted Malanda, and Sheila Kwamboka, have left the company in recent weeks, with some of them joining Radio47, owned by Cape Media.
The Standard Group’s financial troubles have been attributed to various factors, including a decline in advertising revenue, high production costs, and mismanagement. The company’s management has reportedly been struggling to pay salaries, leading to staff unrest and a decline in morale.
The Standard Group’s financial troubles have been attributed to various factors, including a decline in advertising revenue, high production costs, and mismanagement. The company’s management has reportedly been struggling to pay salaries, leading to staff unrest and a decline in morale.
