COMPANY BRIEFS
Media24 to retain newspaper journalists, says Beeld is no longer for saleMedia24 will no longer retrench newspaper journalists from Beeld, City Press, Daily Sun, and Rapport following its plans to close the print editions of those publications.
While the 66 journalists who create, process and package content for those publications will be retained, the company is going ahead with consultations with the rest of the staff affected by the proposed restructurings and divestitures, Media24 announced on Wednesday.
"From the outset, Media24 undertook to keep job losses – particularly of our journalists – to a minimum and this is an important breakthrough in our consultations with staff around the proposed closures of the print editions of Beeld, City Press, Daily Sun and Rapport," Media24 CEO Ishmet Davidson said in a statement.
"The decision, approved by the Media24 board, follows robust discussions and debates with our editors that went beyond the transition from ink on paper to digital in line with irreversible consumer trends and preferences. I firmly believe this is a solution that serves journalism at large."
Last month, Media24 announced a major restructuring that, at the time, would have resulted in up to 400 job losses due to years of declining advertising and circulation. The company planned to close the print editions of four newspapers, shut its SNL24 digital hub, offload its community newspaper portfolio, and sell its media logistics operation On the Dot.
However, the 66 journalists will now be incorporated into Netwerk24, News24, and at the Daily Sun website.
-NEWS24-
Dis-Chem questioned at AGM about 'zero percent' black top management
Dis-Chem was questioned about its slow pace of transformation at its annual general meeting (AGM) on Wednesday, when the pharmaceutical retail group was asked about its "zero black representation" at executive management level.
This comes almost two years after Dis-Chem founder and then CEO Ivan Saltzman sparked a controversy with an internal memo to staff that called on a moratorium on hiring white people.
The group later withdrew the memo, saying it regretted the wording, but stood by the intention to improve its transformation targets.
At the AGM, which was held virtually on Wednesday, one shareholder questioned the pace of transformation at Dis-Chem, noting that the company had "zero percent representation of black individuals at top management" level and only 14.2% in senior management.
At the same time, the written question pointed out that Dis-Chem's gender representation at top management level fell short of the industry average. Women account for almost 38% of senior management in SA overall, according to the Commission for Employment Equity's 2024 report. Dis-Chem's representation, by contrast, is 20%.
-NEWS24-