As a result of that, there has been a heavy security presence at the premises of the companies at Shangisha, Magodo, Lagos.
Those shown the way were said to have been invited to the head office of the TV station in Lagos, where they learnt of their retrenchment.
Punch reports that the mass retrenchment was due to the economic meltdown, and it is being rumoured that the TV station may be rested for its inability to break even, financially.
Former Lagos State governor, Senator Bola Tinubu.
A few prominent broadcasters were said to be among those sacked on Friday.
Read sack letter:
“CBS restructures to deliver world-class services:”
“The Board of Continental Broadcasting Services Ltd., owners of Television Continental and Radio Continental, wishes to confirm a restructuring of its group companies.
“This restructuring is geared towards repositioning the business for better and greater delivery of its services to audiences and advertisers alike. In line with these changes we are reconfiguring our workforce as part of the rationale to achieve our objectives.
“145 people will be affected by today’s announcement.
“We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental will now become the main focus of our business going forward where we will deliver high quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond. The winding down of TVC News Africa will allow us concentrate on these key areas of our business.
“The CBS Board of Directors has also approved substantial new investment in our staff across the group of companies which will enable us substantially enhance our news and current affairs output on TVC News, entertainment programming on the market leading TVC general entertainment channel and our key radio asset Radio Continental.”