KUALA LUMPUR, 4 June 2020 – Media Prima Berhad (“Media Prima” or the “Group”) said today that it will undertake the next phase of its business transformation. Disruptive changes in the media sector and challenging macroeconomic conditions, exacerbated further by unknown variables surrounding the Covid-19 pandemic, have compelled the Group to expedite the next phase of its transformation exercise which will include revising revenue models and corresponding cost management. These initiatives will involve operational changes at selected units to address cost inefficiencies arising from unnecessary work duplication. The business transformation is aimed to land the Group on a robust and sustainable business model for the medium and long-term.
Where manpower rationalisation has to be undertaken, the Group as a responsible corporate entity, will ensure that affected employees will receive a fair and equitable compensation package governed by the law and respective unions’ collective agreements which will be paid upon the fulfilment of all legal requirements.
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