On Tuesday, Global Media’s executive president admitted that if the group fails to achieve its target number of layoffs, it may be forced to carry out a collective layoff.
José Paulo Fafe spoke to the Parliamentary Committee on Culture, Communications, Youth and Sports at a hearing of the Bloco Esquerda (BE) inquiry into the situation at the Global Media Group (GMG).
On September 21, World Opportunity Fund (WOF) acquired 51% of the shares of Páginas Civilizados, the direct owner of Global Media, obtaining 25.628% of the shares and voting rights in Global Media.
During the hearing, José Paulo Fafe said he did not know why the WOF fund chose him: “the best thing to do is ask” the management company, he said.
He assured that his mission at GMG is not to carry out collective layoffs, in fact, that is “the last thing he intends to do.”
But “we may be forced into a collective layoff” if the “required number” of layoffs is not achieved, he added.
On Thursday, the group paid food allowances for last month and wages to workers in the Azores.
Global Media’s furlough scheme ends on Wednesday, the day the group’s workers also went on strike.
On December 6, in an internal statement, GMG’s executive committee, headed by José Paulo Fafe, announced that it would urgently negotiate layoffs with 150–200 workers and embark on a restructuring that it said was necessary to avoid “more than the foreseeable outcome ” bankruptcy of the group.”
Author: Lusa
Source: CM Jornal
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