The iRadio Group, which operates two regional radio stations, has announced that it is to lay off one fifth of its full-time staff.
The group is restructuring the two stations - i102 to 104 in the NorthWest and i105 to 107 in the North East.
In a statement, the company said advertising revenue had fallen due to the economic downturn, and steps needed to be taken to secure the economic viability of both stations.
Staff were told today that ten full-time staff and two part time staff would be made redundant from the middle of next month.
This reduces the number of full-time staff from 52 to 42. The company also announced that it would now co-locate both radio stations at its existing facility in Athlone. Shareholders will be required to invest a further €1.5m in the company.
