The Irish Times is seeking 30 redundancies before Christmas in a bid to reduce costs at the newspaper.
Management held briefings today with staff to outline a number of cost saving measures, including a pay freeze, a ban on bonuses and changes to the company's pension arrangements.
Staff who attended this morning's briefing were told that the company is forecasting possible operating losses of up to €13m next year.
They were also told that there may also be 30 further redundancies in the New Year.
Further briefings were held this afternoon where staff were told that revenue from property advertising has fallen by 50% since last year, while recruitment advertising is down 20%.
Staff were not told which departments would be affected by the 30 redundancies being sought immediately.
Management told the briefing that the people involved would be spoken to in the next seven to ten days.
A number of casual staff are also to be let go.
It is understood that all aspects of employment terms and conditions will be scrutinised - including the nine day fortnight and the six weeks annual holiday entitlement, as well as the expenses regime.
Management will not be receiving bonuses, and executive terms and conditions will also be examined.
Staff sources who attended the meeting said management described current terms and conditions as a 'relic from another era'.
Meanwhile, 71 staff working with Donegal County Council have been told that their contracts will not be renewed and that they are being let go.
It is understood the people concerned work in a range of areas within the council and that funding is the issue which has led to the decision not to renew their contracts.
Sinn Féin Councillor Pádraig Mac Lochlainn blamed the Government and said the news is a devastating blow to the workers.
A statement on the matter is expected from Donegal County Council.
