International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
Rumor has it that City 7 is firing
But the chief operating officer of the channel denies the news.
November 17, 2008 11:03 by kippreport
According to rumors, a number of employees at the local City 7 TV channel have been fired, and the channel may be shut down. The COO of the channel, Ron Kapadia, however denied the news. “Nobody has been laid off,” he told Kipp. “And at present, nobody is going to be laid off.”
However, when one of our reporters went to the channel office earlier today, he found several people milling around in the reception, looking quite agitated. When asked if the channel was shutting down, one person wearing a City 7 TV shirt said “yes.”
City 7, an English channel that was launched two years ago, is part of the Bin Hendi group. The channel provides content filmed in the UAE as well as international shows. City 7 TV is free-to-air throughout the Middle East and Africa.
But the news is bound to send some shivers. So far, the media in the region has remained unaffected by the global financial crisis, while other sectors like banks and real estate have been forced to make job cuts: Damac fired 200 of its employees, Omniyat bid farewell to almost 60 people, and Emaar is also rumored to have had job cuts. There were also reports that Standard Chartered laid off 80 of its staff, though the bank did not publicly confirm the news.
But all that may change now. Although it’s just a rumor, City 7 could be the first in Dubai to downsize (or shut down), but it may not be the last.
Media companies in the West have already fallen prey to the credit crunch In the UK, Virgin Media fired 2,200 employees last week. Forbes in the US is also following suit; ForbesAutos.com is being shut down and its entire staff is being let go. ForbesTraveler’s staff is also being laid off. CondéNet has also reportedly told staffers that it will start slashing jobs “across the board.” Condé Nast’s Wired is also said to cut jobs.
While the City 7 COO has denied the news, have any other rumors or reports reached your ears? Do let us know.