Global Media will begin lay-offs, company under “restructuring” – shareholder

Macau (MNA) – Kevin Ho Kin Lung, shareholder of Portuguese-based Global Media, announced that the publishing group will lay off people.

Speaking to TDM Radio in Beijing on Thursday, the CEO of KNJ Investment Ltd. said he “lamented” the situation, stressing, however, that he could not yet advance an exact number, and that the group would be undergoing “restructuring.”

“Restructuring is not only firing people. It is the restructuring of the whole company which entails altering human resources,” he said to the local broadcaster. 

“We will fire a few people, change some people to other departments, other companies, and we will re-organize the whole company so it is more dynamic, hoping that this will help the entire group,” he added.

Ho, the nephew of Macau’s first Chief Executive, Edmund Ho Hau-Wah, who has 30 per cent of Global Media, has previously said that no lay-offs were being considered.

Global Media is the owner of such media outlets as Diário de Notícias, Jornal de Notícias, and TSF Radio.