The Nation Multimedia Group announced yesterday (31 March) that it will be cutting the salaries of all its employees and suspending all employee benefits due to the effect of the COVID-19 pandemic on its business.
The media conglomerate, which owns three newspapers, two online news agencies, a publishing house, a digital TV station, and the English-language The Nation online newspaper, announced that it will be cutting the salaries of all its employees, starting from today (1 April). It will also discontinue employee benefits not directly related to work or safety, and discontinue all compensation beyond salaries, such as travel expenses and phone bills.
The announcement said that no employee will be allowed to work overtime. The group will also allow department managers to put their staff on unpaid leave, and to lay off employees if absolutely necessary.
The announcement said that the COVID-19 pandemic, which affects every business sector in Thailand, is causing a severe and unavoidable impact on the company’s business activities, and that it needs to implement measures to keep itself afloat during the crisis. It also said that the company may consider lifting certain measures if the situation improves.
Also, its CEO, Chai Bunnag, will not be receiving a salary or compensation from the company during this time.