The Board of Continental Broadcasting Services Ltd. (CBS), owners of Television Continental (TVC) and Radio Continental, has announced reason why it relieved 145 members of staff from the workforce.
According to the management, the move was necessary due to the restructuring of its group companies in line with its rationale to achieve new objectives.
“ We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental will now become the main focus of our business going forward where we will deliver high quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond. The winding down of TVC News Africa will allow us concentrate on these key areas of our business, the company said in a statement.
“The CBS Board of Directors has also approved substantial new investment in our staff across the group of companies which will enable us substantially enhance our news and current affairs output on TVC News, entertainment programming on the market leading TVC general entertainment channel and our key radio asset Radio Continental.
“For those staff members affected by today’s announcement the Board of CBS Ltd. has approved a generous severance package in addition to a programme of assistance to enable them seek new employment, “ the company added.