COVID-19: Tinubu Media Organization TVC Announces Reduction in Staff Salaries
Just like Former Vice President Atiku Abubakar’s varsity which reportedly retrenched no less than 400 staff, the Chief Executive Officer (CEO), of the National Leader of the All Progressives Congress (APC), Asiwaju Bola Bola Tinubu’s Television Continental (TVC), Andrew Hanlon, has also reportedly announced the slash of salaries of staff of the organization to cushion the effect of the Coronavirus on the media sector.
According to Mr Hanlon, the media organization has been managing the business carefully since the outbreak of Coronavirus pandemic.
In a broadcast message to the staff on Monday Hanlon stated as follows:
“Broadcasters across the world are battling with losses. In order to save jobs and not lay off any staff, I regret to inform you that we’ve been forced to reduce our pay.
“ Staff earning N80,000 will get a 5% reduction, those earning between N80,000 and N200,000 will get a 10% cut.
“Senior staff earning between N200,000 and N400,000 will get 15 per cent while those earning N400 thousand to N1 million will get a 20 per cent reduction.
“The management team and director get 25% cut while the CEO also gets a reduction.
“ Pension, transport, accommodation allowances remain the same without any cut.
TVC, a station owned by former Lagos state governor, Bola Tinubu produces and broadcasts talk, lifestyle and information show for Nigerian audiences of all ages.