“This appears to be the biggest lay-offs at the company in the last seven years,” the source, who did not want to be named, told The Nation.
The 100 employees will be laid off with effect from tomorrow. GMM Grammy is reportedly also considering cutting more jobs from its current staff strength of 3,000 employees.
The affected staff will get full compensation under labour laws plus an extra three months of salary due to the urgent notice.
The redundancy follows slide in the performance of its business units such as music, digital content production, public relations and accountancy. The company has been restructuring its internal management since the last two years in transforming the music and entertainment-based company into a…
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