SO dire is the situation, little birds in Utusan revealed that the management has been defaulting on EPF contributions and paying staff loans.
Utusan has since dropped down into the PN17 pit and the pit is getting deeper by the day.
The VSS which was introduced recently to save the company is being seen as a dishonest exercise and manipulation.
VSS compensation will be paid in installments, not lump sum.
That's how dire the situation at Utusan is.
Their Group Editor, Aziz Ishak, dumped the company much earlier when it was during his tenure Utusan was destroyed.
It was him and Najib Razak who burned down the house at Utusan.
Ironically, after losing his job as the Prime Minister, Najib visited the office of his much hated news portal - the Malaysiakini.
And until today, he hasn't dropped by the office of Utusan to see the sufferings he has inflicted upon them.
Will Utusan survive the financial onslaught?
My bet is Utusan will be a midget in no time.
Next installment: Of Bernama, Azman Ujang and Wan Hamidi.
