Home / Economy / Over 100 staff ‘sacked’ as recession hits Nigerian media

Over 100 staff ‘sacked’ as recession hits Nigerian media

The current economic crisis has forced some Nigerian dailies to cut staff strength in their newsrooms across the country.

Sources in Leadership Newspaper in Abuja and The Punch in Lagos told PREMIUM TIMES the media giants recently let go of over a hundred journalists between them, citing rising cost of operation amidst a general economic downturn.

Nigeria’s economy slipped into recession late August after contracting for two consecutive quarters due to months of low crude prices.

Several businesses have closed shop or downsized as the economic situation continues.

Sources in The Punch said the paper, one of the largest employers in the industry, cut between 30 to 40 jobs within the past week.

A management source who confirmed the development to PREMIUM TIMES said some of the staff were dismissed following a staff performance appraisal.

“It’s true that they were dismissed, but not entirely because of the economic situation,” the official said. “We look at staff productivity like every year and those who didn’t meet up were many this year.”

A senior editorial staff said the company would soon engage new hands to replace those recently fired.

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