Daily Maverick announces 15% cost reduction amid challenges 'plaguing' the industry
CEO, Styli Charalambous, elaborates on the recently issued press release expressing his concern about the ongoing job losses in the journalism industry.
The Daily Maverick / Facebook: Daily Maverick
Mike Wills interviews Styli Charalambous, CEO of Daily Maverick.
Listen below.
Daily Maverick's CEO, Styli Charalambous, recently issued a heartfelt press release expressing deep concern over the ongoing job losses in the journalism industry.
He shared that, unfortunately, Daily Maverick is implementing a 15% reduction in operating costs – a decision reached only after thoroughly exploring every possible alternative.
Charalambous emphasised that, given the current market context, their work is eight times more challenging than it is in developed countries.
"There's a problem that's not only a South African one, it's one that has plagued the entire world with the sustainability of journalism. It's a thing that's been plaguing us for the last decade."
- Styli Charalambous, CEO – Daily Maverick
He emphasises the urgent need for policy reform and incentives to attract more individuals to the journalism profession and to inspire businesses and donors to support this vital field – an essential pillar in safeguarding South Africa's democratic fabric.
He reassures everyone that Daily Maverick is not shutting down.
Reflecting on past challenges, Charalambous expresses heartfelt confidence in their ability to navigate these turbulent times and emerge stronger once again.
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