The Board of Directors of Radio Jamaica Ltd met on February 26, 2009 and the Board reviewed the state of the local economy and the advertising industry in particular. RJR’s management has been authorized to implement a restricting plan which modifies staffing and business processes in the group.
Normal containment of expenses through improved productivity and voluntary cost reductions is no longer adequate as the downturn in business deepens.
In the company’s third quarter to December it reported a recovery from a disappointing second quarter. These new measures will build on those positive developments and also enable the company to position itself to continue operating profitably.
Discussions with all internal and external business partners will continue as the company seek voluntary participation in the adjustments that are necessary for the long term strength and growth of the Company.