The company has asked staff to take a 50% pay cut.
As we speak there is confusion in the company as the HRM, Finance Manager and COO went round the organisation’s 4 offices alerting staff of the changes. They however fell short of giving the way forward and left it to the MD, who is out of the country.
The problems are as a result of a poor invetment decisions regarding Metropol TV. The company can no longer support the TV and the MD spent a lot of money hiring the Githeri journalist Terryanne Chebet and taking her on a sex trip to SA apparently to negotiate with CNBC who have never agreed to partner with them.
The company went ahead to pay rent for a whole 12th floor at KCB towers for 2 years without occupying it as they waited for MTV to pick up.
The board has asked Sam Omukoko (MD) to shut down the TV but he is majority owner and he overrules them. He doesn’t want to look bad in the eyes of his girlfiriend Terryane. Now the whole company is suffering and might shut down under the weight of debt.
Sam hired some Ukrainians to develop a data terminal and so far they have taken Ksh12 million and they have not delivered the platform. They have now engaged Njoroge Regeru to demand full payment of the contract.
The company’s medical scheme has been cancelled, the corporate account for Little cabs has been cancelled (meaning the TV crew cannot move), external calls have been blocked. JKUAT towers management is threatening to shut down power for non-payment of rent at the MTV studios.
Meanwhile the slay queen Terryanne has been given a payrise and her salary is paid directly from the MDs account. Sam’s vanity TV project modelled after Bloomberg has brought the whole organisation to it’s knees and it will not be long before it shuts down.
Standard group are demanding their payment before the collapse and are threatening to start bankruptcy proceedings against Metropol.
