Retrenchment of staff in Mmegi Group of Companies

The decision to retrench was taken as a last resort after the Board considered and tried, without success, everything else to improve the fortunes of their companies.

The retrenchment has been occasioned by the decline in revenue, which is evident across the media industry in the country in particular, and generally across the globe. While income has been declining costs have remained constant, at best, or increased, at worst. Over the last 12 months, MIH’s respective subsidiaries have taken steps to cut costs in various areas of their operations, but despite that, the situation has not improved to an acceptable level.