CBC Staff Warned Salaries May Be Late as Financial Challenges Worsen

CBC Staff Warned Salaries May Be Late as Financial Challenges Worsen

The staff at the state owned CBC, has been warned that from this month, onwards the Corporation may be unable to pay their salaries on time.

The CBC’s Chief Executive Sanka Price has informed the staff of the radio and tv operation of the situation via an internal memo.
In the memo Mr. Price says that when he began his tenure in June of 2020 his first priority was to ensure salaries were paid on time because he saw how repeated late payment impacted the lives of employees.

He adds that from September 2020 to last month, January, salaries were consistently paid as scheduled despite the several financial challenges the organization has faced during this period.

However, according to Mr. Price, the challenging financial environment that has increasingly been impacting the corporation’s cash flow has become acute and he serves notice that as a result it is possible that salaries will be paid late this month, February, and in the months ahead.
The CBC boss points out that the poor cash flow situation has been ongoing for several months but the Corporation never alerted staff as they were using every option available to generate enough income to pay salaries as scheduled.

But, he says they have now exhausted these options while the CBC’s cash flow continues to worsen resulting in the possibility of salaries being paid late.

He ends by giving the assurance that the Corporation will do everything possible to try to meet these obligations in a timely manner and is alerting staff to the possibility of the late salary payments so they can plan accordingly.

Starcom Network
Starcom Network
The 5:30 Edition
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