The Television Continental (TVC) owned by former governor and the national leader of the ruling APC party, Bola Tinubu retrenches 145 employees on the basis of restructuring.
The retrenchment occurred yesterday 2nd June. This decision is in an effort to restructure the company and achieve growth.
“145 people will be affected by today’s announcement,” the statement read. It also emphasized on the core channels that would be functioning and the shutting down of TVC Africa which would allow easy concentration.
“We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental will now become the main focus of our business going forward where we will deliver high quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond.
The winding down of TVC News Africa will allow us concentrate on these key areas of our business.”
They did make known their intentions and provisions for employees that are affected by the announcement “for those staff members affected by today’s announcement the Board of CBS Ltd has approved a generous severance package in addition to a programme of assistance to enable them seek new employment.”
The special assistant to the Governor of Ekiti state on public communications and new media, Lere Olayinka, made this known via his twitter handle @OlayinkaLere.