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Geo cuts half a dozen jobs in Peshawar
JournalismPakistan.com | Published: 23 January 2019
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Geo News has reduced its workforce in Peshawar as part of a cost-cutting strategy. The station cites financial difficulties related to a declining economy and reduced advertising budgets.Summary
PESHAWAR – Geo NewsTelevision 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 percentof 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.
Key Points
- Geo News laid off half a dozen employees in Peshawar.
- Job cuts include reporters and sub-editors.
- Staff salaries are also being reduced by 10-20%.
- The network cites a weakening rupee as a reason.
- Advertising budgets of major clients have drastically decreased.
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