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TLDR
- Mediamax Network Ltd., the parent company of K24 TV and People Daily, has announced another round of job cuts, marking its sixth retrenchment in four years
- CEO Ken Ngaruiya cited shifting consumer habits, digital disruption, and what he termed “punitive government regulations” as reasons for the restructuring
- Laid-off staff will receive salaries for days worked, pay in lieu of notice, accrued leave, and severance equal to 15 days per completed year of service, minus any outstanding debts
Mediamax Network Ltd., the parent company of K24 TV and People Daily, has announced another round of job cuts, marking its sixth retrenchment in four years. The company did not disclose the number of affected employees.
In an internal memo, CEO Ken Ngaruiya cited shifting consumer habits, digital disruption, and what he termed “punitive government regulations” as reasons for the restructuring. He added that falling sales and a challenging macroeconomic environment had forced the company to review its operating model.
Laid-off staff will receive salaries for days worked, pay in lieu of notice, accrued leave, and severance equal to 15 days per completed year of service, minus any outstanding debts, TechCabal reported.
Mediamax joins other Kenyan media houses facing similar challenges. Nation Media Group cut 16 jobs in mid-2024, and Standard Group laid off more than 300 employees in August. Delayed payments from government advertisers and restricted betting ads have further strained revenues.
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Key Takeaways
Kenya’s traditional media is undergoing structural decline. Over 500 journalists have lost their jobs in the past two years, as media companies struggle to adapt to shrinking print circulation, declining ad revenue, and digital disruption. Industry leaders cite delays in payments from national and county governments, restrictions on betting ads–a major source of revenue–and a government policy to centralize advertising through a single entity. These pressures mirror global trends, where legacy media is transitioning to digital-first models. However, in Kenya, the shift is compounded by regulatory and liquidity constraints. Without reforms to advertising policies and sustainable digital monetization, the trend of layoffs is likely to persist, weakening media diversity and access to independent journalism.
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