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HomenewsStandard Group Pays Employees In Batches As Financial Constraints Worsen

Standard Group Pays Employees In Batches As Financial Constraints Worsen

The Standard Group is struggling to pay salaries as financially constraints continue to hit hard the top-rated media company.

Business Today reported that SG is having a hard time paying its staff with employees from editorial and management departments the most hit.

The salary delays have since been attributed to cashflow issues caused by a reduction in revenues, growing debts and fraud.

At the same time, it is said that correspondents have gone for months without payment.

“It’s 6th of May. A huge number of Standard Group staff has not received their salaries. Some received their pay slips almost thrice on Thursday but no money. A few have, however, been paid,” a junior employee said.

Following the continuous salary delays, a section of employees protested to HR forcing the HR to send out a memo over the same.

“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 out by the HR read.

The company resorted to paying workers in batches, with a good percentage yet to receive their April salaries.

The Standard has a presence in broadcast through KTN, KTN News and Radio Maisha.

In print it owns Standard newspapers and The Nairobian weekly as well as Standard Digital which runs online versions of the two divisions.

It also owns advertising firm Think Outdoor.

The Standard was established as the African Standard in 1902 as a weekly by Alibhai Mulla Jeevanjee, an immigrant businessman from India.

Jeevanjee sold the paper to two British businessmen in 1905.

The British-based Lonrho Group bought the newspaper in 1963, sold to Kenyan investors including Moi who was then serving as president in 1995.