When Redundancy Turns Your Life Upside Down
The retrenchments that have hit the media industry in Kenya have turned many lives upside down. Journalism is one field that has been turned upside down by technology as more and more people turn to the worldwide web to stay informed.
The media industry has been suffering reduced revenues over the past few years due to the rise of digital media that’s taking up advertising. More and more advertisers are taking their advertising shillings online and cutting on the traditional media such as radio, TV and newspapers.
This could be attributed to falling readership and viewership. “According to Patrick Quarcoo, the CEO of Radio Africa, the media industry lost KSh1.5 billion over the last one year alone and laid off over 550 personnel.
Broadcast has particularly been hit by the switch to digital broadcasting last year, which opened the industry to massive competition.” – http://businesstoday.co.ke/massive-layoff-at-royal-media/ The media houses such as the Royal Media Services, The Standard Group, Mediamax, etc, are not the only ones that have either sent staff home or are in the course of doing it.
Companies such as the national carrier Kenya Airways, Ericsson and certain banks have all had to take the painful decision of sending employees home in an effort to reduce expenses.
Are you prepared with Plan B should your job end suddenly? Would you be able to maintain your lifestyle? Do you know that the Internet is the platform where fortunes are being made?
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P.S My apologies for being off-topic but I had