Salary reduction affects only 10% of staff, Nation Group clarifies
Nation Group has clarified that the recently announced partial salary suspension impacts only 10% of staff, and mostly affected the management team.
Reacting to recent news on various platforms, the company called them “distorted messages presenting partial truths, causing widespread public misunderstanding and online criticism, leading to damage to the organisation’s reputation”.
The company denied it was in a crisis, and said it was preparing for the future. Emphasising its role as an institution serving the public, the company said the economic slowdown and technological changes, particularly digital disruption, had impacted the media industry globally.
Nation Group said in the statement that cost-reduction measures were a preparation for the future to ensure business stability. One such measure is the “partial salary suspension”, affecting only management staff to demonstrate responsibility towards the organisation and employees. This measure impacts only 10% of the total company payroll, and would have no effect on the remaining 800 employees, it said.
Shine Bunnag, Executive Chairman and CEO of Nation Group, said: “Nation Group has been a steadfast media organisation in Thai society for over 54 years. We have faced numerous economic crises and changes in the media landscape, communication technologies, and economic downturns. This is not the first storm, and it won't be the last. We see the current challenges as part of life's journey, and we are not alone in being affected. Major global and national media outlets have also reduced staff and expenses. During the Covid-19 pandemic, we implemented a 10% salary suspension for employees to ensure financial stability, and once the situation improved we fully reimbursed the employees. The announced measures should not cause concern, aside from exaggerated news by competing media to undermine Nation Group’s credibility.”
Nation Group continues to invest in various business models, including film, showbiz, and online image and information trading (archives) to ensure future growth. In the media business sector, Generative AI technology has been integrated to enhance editorial capabilities and develop platforms to meet all target groups' needs, he said.
"We sincerely thank all supporters. Nation Group affirms that the organisation remains stable with strong revenue, and we will continue to produce news and create beneficial content for Thai society," Shine said.
