Media24 begins consultations on new operating model while IOL and The National expand staff

Media24 has started discussions with employees regarding a new editorial operating model within its Media division. This move has once again raised concerns about the future of jobs at the media company, as the media industry giant continues to work on increasing resilience amid growing industry pressure.

According to a report published by News24 on Friday, the consultation process began earlier that same day and is overseen by Minette Ferreira, the current CEO of Media24's Media division and future CEO of the company.

In a statement provided to News24, outgoing Media24 CEO Raj Lalbhadur stated that the goal of the consultations is to restructure management functions in the division's editorial department. He emphasized that the process is intended to strengthen the long-term viability of the business amidst the current difficulties facing the media industry.

Lalbhadur added that the task is to create a foundation for the future sustainability of the Media division and continue the important contribution of the company's platforms and publications to South African democracy.

Although Media24 has not disclosed whether the consultation process will lead to layoffs, the announcement is likely causing anxiety among staff, given the company's recent history of restructuring and cost-cutting measures. The company stated that it will conduct this highly sensitive process while adhering to labor laws and showing empathy.

Lalbhadur also clarified that no further details will be provided until the consultations are complete.

The latest round of consultations followed a series of significant restructuring measures undertaken by Media24 since 2024, aiming to accelerate the transition to a digital-focused business model. Over the past two years, the company has sold logistics enterprises M24 Logistics and On the Dot, divested assets of local newspapers and sports publications, including Laduma and Kick Off, and closed several publications. These included the print versions of Beeld and Rapport, and recently the digital publication City Press was also closed.

These restructuring efforts come against a backdrop of a challenging global media landscape, where traditional advertising revenues continue to decline, and spending on digital advertising increasingly flows to tech giants such as Google and Meta. Media24 reported losses of approximately 260 million rand for the financial year ending March 2026, while its parent company Naspers announced a 28% decline in the division's revenue in June.

Ferreira is expected to take over as CEO of Media24 on September 1st, and Lalbhadur will return to his former role as CFO. IOL reached out to Media24 employees for comments on the consultation process and its potential impact on staff, and contacted the editor-in-chief for remarks. All those interviewed declined to comment on the situation.

Meanwhile, IOL has launched a large-scale recruitment campaign, hiring over 100 journalists and other media professionals as part of the media group's drive to become the preferred news publisher in South Africa.

olhardigital.com.brJuly 28, 19:15

Visa announces restructuring and layoff of 2,600 employees to increase efficiency

Visa, one of the largest global digital payment corporations, announced on Tuesday, the 28th, a reduction of about 7% of its workforce, which corresponds to approximately 2,600 people.

Operational Efficiency Strategy

According to the company itself, this measure is part of a strategy aimed at optimizing its operations and concentrating resources in areas considered priorities. The layoffs will mainly affect the company's technology and product development departments.

This reorganization takes place in a context where large companies in the technology and finance sectors are seeking to restructure their organizations due to the growing adoption of artificial intelligence.

Future Direction and Investments

The decision was made after a detailed analysis of Visa's operational model. The company declared its intention to focus on opportunities with greater growth potential while monitoring transformations occurring in the payments and commerce markets.

Visa's CEO, Ryan McInerney, formalized the internal communication through a memo sent to employees. He assured that the company maintains confidence in the implemented strategy, aiming to strengthen investment capacity in segments considered more promising.

Role of Artificial Intelligence and Competition

McInerney clarified that Visa needs to continuously adapt its way of operating to keep up with industry news and changes, highlighting the crucial role of artificial intelligence as a tool to streamline internal transformations.

The cuts follow a trend seen in other large payment and technology companies. Mastercard, Visa's main rival, had already announced a 4% reduction in its global team, while Block reported reducing nearly half of its employees.

Although technology is a factor, Visa emphasized that artificial intelligence was not the only reason for the change. Technology has been used to automate repetitive tasks and accelerate product development phases, but operational efficiency was also an evaluation point.

Financial and Market Analysis

As it closed the 2025 fiscal year, the company had around 34,100 employees, representing an 8% increase compared to the previous period. Despite the recent cut, analysts considered that this change would not significantly impact the company's trajectory.

Evercore ISI specialists classified the action as a cost and structural adjustment within a robust organization, suggesting that Visa is reallocating capital to areas with higher return potential.

The announcement came before the release of quarterly results. In the last two years, Visa has exceeded Wall Street expectations in most reports, with only one quarter showing results in line with analyst forecasts.

The company's good performance is also supported by the resilience of consumer spending. Since its revenue derives from the volume of processed transactions and not from direct credit granting, Visa's structure minimizes its exposure to default risk.

With its payment network present in over 200 countries and territories, Visa is used by billions of people daily. The company believes this model confers greater stability, even in scenarios of possible economic contraction.

In the financial market, the company's shares rose by about 1% in early trading after the announcement. Visa's market value exceeded US$ 683 billion, according to data provided by the LSEG report.