Media Prima Bhd said all its staff that are to be discharged soon will be compensated fairly in accordance with the law and their respective collective agreements.
In a statement last night, Media Prima said it was cooperating with four trade unions to ensure the success of the company's business transformation plan.
"This will ensure that the implementation of the plan is transparent and all obligations to employees will be given priority," the company said.
It will also be providing outplacement service and career counselling to those who have lost their jobs.
Previously, Media Prima - which owns several free-to-air television stations, four newspapers, a stable of online brands and billboard agencies, among others - had announced that it will complete a downsizing exercise by the first quarter of 2020.
The company, in which Umno once held a substantial stake, posted a loss of RM53.6 million in the first half of 2019, compared to a profit of RM8.7 million in the first half of last year.
Recently, businesses linked to tycoon Syed Mokhtar Albukhary became the biggest shareholders in Media Prima. - Mkini
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