The Standard Media Group is facing a financial crisis that has resulted in an inability to pay salaries. According to a report that appeared in a local media news website, the Standard has been issuing payslips without actual salaries.
The report said that correspondents working for the media house have gone for months without pay.
“Most employees from editorial, management and other departments have been experiencing salary delays over the past few months attributed to cash flow issues caused by a reduction in revenues, growing debts and fraud,” the report said.
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It quoted one of the employees at the media house saying that by May 6, employees had not been paid yet. “A huge number of Standard Group staff [had] not received their salaries. Some received their pay slips almost thrice on but no money. A few [had], however, been paid.”
The delays led to silent protests at the company, which caused the management to issue an internal memo.
“As you may be aware there has been delay in paying salaries for senior staff. Finance are doing everything possible to pay the salaries soonest by mid next week,” an internal memo sent by the HR manager on May 6, 2022 said.
The report further said that the Standard Media Group had resorted to paying workers in batches. One of the batches was scheduled to receive their pay on May 16, 2022.
