Against a background of challenging macroeconomic conditions, exacerbated by the Covid-19 pandemic, Malaysia’s Media Prima Berhad and representatives from its five union groups have concluded discussions on the execution of the next phase of the Group’s business transformation plan that was announced on 4 June 2020.
The business transformation plan included revising revenue models and corresponding cost management with “operational changes at selected units to address cost inefficiencies arising from unnecessary work duplication”.
The rationalisation will result in the termination of approximately 300 affected employees.
According to Media Prima, the discussions aimed to “ensure that the process is transparent and that all obligations to affected employees were given the utmost priority. All parties understood the need for the business transformation and agreed to the mechanism of fair and equitable compensation to affected employees as governed by the law, respective union collective agreements and employment contracts.”