The management of Television Continental (TVC) had sacked 145 members of its staff.
They have given as explanation, that the sacking of 145 members of staff were sacked as a part of the repositioning measures.
In a statement issued on Friday, the Board of Continental Broadcasting Services Ltd (CBS), owners TVC and Radio Continental, said that the decision was part of its effort to restructure the enterprises.
The restructuring is geared towards repositioning the media outfit for better and greater delivery of its services to its audiences and advertisers, according to the statement.
It further stated that the organisation in line with the changes, it would reconfigure its workforce, as part of the rationale to achieve its objectives.
“A total of 145 people are affected by Friday’s announcement,’’ the statement said.
“We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental, will now become the main focus of our business going forward, where we will deliver high quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond.
“The winding down of TVC News Africa will allow us to concentrate on these key areas of our business,” it added.
Continuing, “For those staff members affected by today’s announcement, the Board of CBS Ltd has approved a generous severance package, in addition to a programme of assistance to enable them seek new employment,’’ the statement said.
The media outfit is reportedly owned by Chief Bola Tinubu, a chieftain of the All Progressives Congress (APC) and former governor of Lagos State.