STAFF at Media Prima Bhd, the country’s largest media company, will know on Monday whether they are among those who will receive the chop through a retrenchment exercise.

Employees told The Malaysian Insight the letters were supposed to be issued on Friday but it was postponed as it involved a huge number of staff.

One of them said they were informed by the National Union of Journalists (NUJ) that the details of the letters are still being studied by the management.

“According to NUJ, the management did not have the time to relook the letters.

“There are too many letters and the list of names has yet to be finalised by the top management.

“The letter will be given on Monday to those affected,” the employee said.

Another employee said they are less eager to work now and blames the management for causing the company to incur high debts.

“Many believe the problem in the company is because of the management. Top level management.

“They can’t bring any substantive income although there are many platforms for advertisements that can generate money for the company,” he said.

The employee, who has been a staff for five years added that for ordinary workers like him, they do not know what the company has done other than to terminate staff.

Media Prima recorded more than RM49 million losses in the first quarter of 2019. The company has 100% shares in TV3, NTV7, 8TV and TV9.

The group is also the owner of The New Straits Times Press (Malaysia) Bhd, which publishes three national newspapers – The New Straits Times, Berita Harian dan Harian Metro.

In November, the company announced that it was transforming its business and an internal restructuring is expected to be completed in the first quarter of 2020.

In the same month, it was rumoured that Media Prima would terminate up to 1,500 employees.

The restructuring was announced after billionaire Syed Mokhtar Albukhary bought more shares in Media Prima through his company Media Mulia Sdn Bhd.

Media Mulia now owns Utusan Malaysia and Kosmo after Utusan Melayu (M) Bhd ceased operations on creditors’ voluntary liquidation. – December 14, 2019.