The Ghana Independent Broadcasters Association (GIBA) will in the coming days look into and publish its findings on the recent mass staff layoffs on the media front.

Some media firms, GN Media owned by Group Nduom and TV Africa have in the last few days laid off staff in what has been described as a restructuring exercise, heightening concerns over the recent job as a similar incident followed the collapse of some banks.

President of GIBA, Andrew Danso-Aninkora, says the Association is beginning talks with labour unions to get to the bottom of the lay-offs in the media.

“We will need to meet and find out and understand what is going on and put out a document,” he said.

Meanwhile, an Economist, Professor Peter Quartey, believes the media houses that are currently challenged were not set up as viable businesses.

According to him, there is a link between the media staff layoffs and the banking sector crisis.

“If the media outlets are not financially sustainable, they draw on these financial institutions in order to remain vibrant…and certainly once their source of funding dries up, they go down. But if they get a capital from their financier and you independent and viable, I don’t see why if your financier goes down you should also go down; unless there are no good corporate governance structure in those media houses,” he said.

Photo: Dr Papa Kwesi Nduom

The founder and Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has stated that he feels agonised anytime an employee of his firm is retrenched.

“At Groupe Nduom, we have over 6,000 employees. Most of them work hard. They have families and they have hopes for a better future. I agonize over even one employee who has to go home because the business cannot support him or her,” he said in a Facebook post.

Dr. Nduom also called on the government to help local businesses that show seriousness about doing the right thing.

In a lengthy post on Facebook, Mr Nduom stated in part: “it is a fact that seven locally-owned banks have been stripped of their licenses by the regulator. It is appropriate for those alleged to have caused losses or engaged in criminal conduct to be taken through the dictates of the rule of law. But why this overwhelming attack on all Ghanaian banks, investment and finance houses and insurance companies? All professions and industries in Ghana have problems and many are under stress. This includes Legal, Media, Health, Education, Pharmacy, Public Sector, Football, Music, etc. We cannot continue the hourly recounting of wrong-doing, challenges and problems. Let’s find solutions.”