Some 300 employees of Thailand's loss-ridden state media offer to take early retirement

October 28, 2020

Some 300 employees of the Mass Communication Organization of Thailand (MCOT) have offered to take early retirement in exchange for a huge lump-sum pay, said an executive official of the state media firm on Tuesday.

Of a total of about 1,400 employees of the financially-ailing MCOT, about 300 have offered to take early retirement at the end of this year so that they will be entitled to a maximum of 22 months of salary in severance pay, according to acting MCOT President Sirote Ratanamahatana.

The MCOT television and radio stations have been operating at loss due to steeply reduced income over the last several years as people have largely turned to social media, Sirote said.

However, those who may have been employed for less than 10 years are not eligible to take early retirement, he said.