January 23, 2019
PESHAWAR – Geo News Television has laid off about half a dozen employees that include reporters and sub-editors from its Peshawar center.
The job cuts are seemingly part of a plan announced by Geo earlier this month to eliminate the gap between revenues and expenses.
The network had also said it would cut staff salaries by 20 percent of those drawing more than Rs 0.4 million per month.
Staff with salaries of Rs110k to 400k per month face a 10 percent cut. Those below the 110k mark will see no reductions.
Geo cites an economic slowdown - the consequence of a weakening rupee and a drastic reduction in advertising budgets of major advertisers - as the reason for these extreme measures.
Pakistan Observer, February 6, 2017
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