Dec 2016 Financial News

Sabga unaware of more job cuts at ‘Guardian’

Dec 02, 2016

CHAIRMAN of the ANSA McAL Group A Norman Sabga says he is unaware of any further job cuts at the Trinidad Guardian newspaper.

But he admitted that 2016 had been a rough year for the Guardian Media group.

He said because of a newly installed IT system, which automates the planning process of the newspaper, Guardian Media Ltd has had to streamline its operations, resulting in a number of jobs cuts.

GML publishes the Guardian and operates TV station CNC3 and a number of radio stations. It is owned by ANSA McAL.

The Express reported on Tuesday that six freelance employees of the newspaper were sent home as their positions had become redundant.

Sabga said yesterday while cuts have already taken place, beyond that, he had not been informed of more to come.

He was speaking to reporters following a press conference at the ANSA McAL's Hospitality Suite, Queen's Park Oval, Port of Spain, at which the 2017 laureates of the Anthony N Sabga Caribbean Awards for Excellence were announced.

Rough year for GML

Sabga said this year had been a rough year for GML.

He said the company had seen a significant increase in its expenses.

He said the majority of these expenses included hiring new staff.

“The headcount swelled significantly in the last three or four years,” he noted.

He added: “So we do need to look at the organisation. To rally the troops, to do more, to do better to understand that we are in a difficult period and call on our staff to help us weather the storm and to continue to improve the organisation going forward.”

As to the overall performance of ANSA McAL's various segments ahead of the Christmas season, Sabga said October was a bad month for business but November was a lot better.

“So it's been a mix-match. We're hoping for a really bouncing Christmas and we've seen indications where December is going to be a tremendous one. We have a saying that ‘Christmas always happens', so we really think that December's going to be a great month.

“We've seen indications of that already and you know what? The price of oil is over US$50 a barrel, which is a great fillip for the country and the economy,” he said.

Source:
By Leah Sorias
Trinidad Express
Thursday December 1, 2016, 9:00 pm AST

http://www.trinidadexpress.com/20161201/business/sabga-unaware-of-more-job-cuts-at-8216guardian8217