Smart Telecom is to cut 76 sales jobs, as a result of a review of the company's business announced at its annual general meeting last week.
A statement from the company said the move was the first measure implemented from the review, which is aimed at stemming losses and bringing the company back to a break-even level.
Last week shareholders heard that the company had run out of cash and was relying on shareholders for day-to-day funding.
Smart's acting chief executive, Ciaran Casey, said he was confident the review would conclude shortly.
