The management of Continental Broadcasting Service, owners of Television Continental, TVC, this morning sacked 145 members of its staff.
Television Continental is owned by former Lagos State governor and National Leader of the ruling All Progressives Congress, Senator Bola Ahmed Tinubu.
The affected employees were said to have been invited to the head office of the TV station in Lagos, where they learnt of their retrenchment.
Reports said the mass retrenchment was due to the economic meltdown, and it is being rumored that the TV station may be rested for its inability to break even, financially.
Prominent broadcasters were said to be among those sacked on Friday.
Among the reason for the mass sack is over bloated workforce and high over head cost.
The media house in its downsizing, also shut down one of its TV station which is the TVC News Africa.
Following the mass lay-off of staff members, the medium have installed heavy security officers comprising of both police and bouncers at the front gate, report says.
They were however paid their entitlements as they were disengaged.