One Caribbean Me­dia Lim­it­ed (OCM) has com­plet­ed a re­struc­tur­ing ex­er­cise which in­clud­ed re­trench­ment of 49 em­ploy­ees across the CCN Group (CCN, Ex­press, TV6), Group Chief Ex­ec­u­tive Of­fi­cer Dawn Thomas has con­firmed.

In a state­ment to em­ploy­ees, Thomas said the com­pa­ny had to make some tough de­ci­sions to en­sure the or­gan­i­sa­tion is prop­er­ly struc­tured to re­main vi­able with "the nec­es­sary re­sources to in­vest in our peo­ple. plant and process up­grades."

She said: "The me­dia in­dus­try has been go­ing through fun­da­men­tal changes main­ly due to tech­no­log­i­cal de­vel­op­ments in the dig­i­tal space. Ad­di­tion­al­ly, the eco­nom­ic en­vi­ron­ment has been chal­leng­ing and in de­cline for sev­er­al years.

"These fac­tors, un­for­tu­nate­ly, have neg­a­tive­ly im­pact­ed our ad­ver­tis­ing rev­enues as our loy­al clients have cut their ad­ver­tis­ing/mar­ket­ing bud­gets as they too strug­gle with a de­cline in their busi­ness per­for­mance."

Thomas said the OCM man­age­ment team had ex­plored all pos­si­ble ac­tions, in­clud­ing cost re­duc­tion mea­sures.

She ex­pressed con­fi­dence that the or­gan­i­sa­tion would emerge stronger, more ef­fi­cient and more rel­e­vant.

"At this time, I seek your un­der­stand­ing and con­tin­ued sup­port in mak­ing this tran­si­tion a suc­cess," she said.