SCM to Offer Severance Pay to Each Media Group Ukraine Employee


Due to the company’s disengagement from the media industry, SCM Investment Company will offer severance pay to each team member, an SCM press release reads.

Each Media Group Ukraine employee will receive a severance payment of three to twelve months’ worth of wages, depending on how long they have worked for the company, according to Rinat Akhmetov’s initiative.

This exceeds what the applicable statutes call for by a wide margin.

A redundant employee is legally entitled to one month’s salary in severance pay.

For the Ukrainian media market, the scale of the severance pay to the team members is exceptional.

The average monthly earnings of employees prior to the war will serve as the basis for severance compensation in 2021.

SCM also ensures the fulfillment of all other monetary commitments to the Media Group Ukraine workforce, such as compensation for unused vacation time.

Our employees’ employment will end after going through a number of stages.

Stage 1 will concern those who weren’t a part of the production process as of July 11 and will start on Monday.

The next stages will be covered in more detail.

“Since the decision to leave the media business was very hard and involuntary, we are sad to bid farewell to our professional team of leaders. We are immensely grateful and highly value each of you. All these years, you have been making the country’s best media with millions of loyal viewers and readers. We are proud of your work and achievements. Having deep respect for the team, Rinat Akhmetov decided that the severance pay for everyone should be higher than the law requires. This will give you each of you at least three months to decide what to do next. You are all great professionals! May your future path be broad, smooth and upward-only! We are looking forward to your new achievements,” SCM’s Director of Public Relations and Communications, Natalia Yemchenko stated.