Emmanuel Thomas, Lagos
October 9, 2015 – There is palpable tension in Punch Newspapers, one of Nigeria’s most successful and widely read newspaper over plans to sack more workers for dwindling sales revenue.
The newspaper which has been relatively stable following the exit of former Managing Director, Chief Ajibola Ogunshola and Executive Director(Publications), Mr. Azu Isiekwene who orchestrated a policy of making reporters to write written text twice each year for mental alertness while those who fail are shown the way out.
But the newspaper recently sacked some workers with threat to sack more before end of 2015.
The newspaper which recently set up a printing press in Port Harcourt to take care of operations in East and another in Abuja to ease circulation in the northern region is alleged to be making less profit than anticipated even when sales are said to have doubled in areas where printing presses have been set up.
A pointer to this, we gathered was recent reduction in pagination from 76 to 48 pages with reduced sales from advert. The newspaper, according to sources does not owe salary and pays the highest salary in the industry with generous end of year packages.
“The newspaper also pays weekly Basic Transport Allowance(BTA) of a minimum of N10,000 per week and telephone allowance. A fresh reporter receives about N170,000 per month while a chief correspondent earns about N350,000. A line editor earns about N500,000 per month which is about the highest in the industry.
“Wages are paid by 28 of every month with incentives of about N500,000 for any reporter that wins award, while a reporter that distinguishes himself is also generously rewarded. The newspapers is run with regular reporters (staff) and freelancers who also receive generous payment per story filed”, another source told Starconnectmedia.com.
We gathered that management of the newspaper is no longer comfortable with the high wage bill and is now planning to embark on mass retrenchment. It is hoping to achieve this by setting stringent target for workers, while those who fail to meet up will eventually be made to leave.
This development we gathered has sent shivers down the spine of reporters and other workers. The newspaper also has a policy of paying generous packages in millions to directors every year.
