Over 145 members of staff have been sacked by the management of Continental Broadcasting Service, owners of Television Continental Broadcasting Service, which operates TVC News, TVC Nigeria, TVC Entertainment and Continental Radio.
Reason given for the mass sack is that the stations are not commercially viable.
The media conglomerate is owned by former Governor of Lagos State and national leader of All Progressive Congress (APC).
There was heavy security presence at the firm as the sacking was carried out to prevent any form of protest from the sacked employees. Some of the fired employees were pioneers at the broadcasting outfit.
Report have it that the political chief ordered the management to come up with measures to drastically reduce overhead costs, especially workers salaries that reportedly ran into 200 million naira each month.
The media firm in its downsizing, also shut down one of its TV station, TVC News Africa, with TVC Nigeria now to take over the former’s function.
TV Continental and Radio station are among Nigeria’s top television and radio stations, having carved a niche for themselves in news gathering and entertainment.
The staffs were however paid their entitlements as they were disengaged.