As the wind of the adverse effects of the Coronavirus, COVID-19 pandemic affects many sectors and industries, including the media industry, Management of Television Continental (TVC) has slashed its staff salaries.
Chief Executive Officer of TVC, Andrew Hanlon announced the reduction in salary via a broadcast message to the staff.
According to Mr Hanlon, the media organization has been managing the business carefully since the outbreak of Coronavirus pandemic.
He stated that the management of the media outfit resolved to slash staff salaries to avoid job losses.
He said, staff, earning N80,000 will get a 5% reduction while those whose salaries range between N80,000 and N200,000 will get a 10% cut.
More so, 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, while the management team and director get 25% cut while the CEO also gets a decline.”
Meanwhile, he added that 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.