Retrenchment packages GISL to close on September 30

None of the employees will be absorbed into state-owned CNMG (Caribbean New Media Group) but they will receive retrenchment packages prior to the shutting down of operations.

Those affected include camera personnel, editors and others. Employees were also told that a decision was made to inform them before the news could be leaked. Some shocked employees later said while they have been hearing for some time through the grapevine that GISL was to be shut down they thought all workers would have been absorbed into CNMG.

But Newsday understands that CNMG itself is not on firm footing as it has been operating at a loss and job cuts are coming before year’s end.

A feasibility report on CNMG and GISL was commissioned last year and it was reviewed by Cabinet.

The report recommended closure of GISL and job cuts at CNMG. Some of the affected workers said yesterday they are unsure about their future especially where other media companies are also retrenching its workers.