A printing company, which until recently printed the Irish Examiner and other newspapers belonging to the Thomas Crosbie Holdings group, has announced that it is to lay off more than half of its staff.

Webprint, which is based at Mahon Point, Cork, told staff today it will be making 26 of its 46 staff redundant.

In recent weeks all of the people currently employed at the company have been employed for just two days a week.

The company hopes there will be enough work to employ the remaining 20 workers on a full-time basis.

Webprint is taking legal action against the newspapers formerly owned by Thomas Crosbie Holdings over the termination of contracts when that company went into liquidation.

In a statement, the company's managing director Donagh O'Doherty said the company has been left with no option but to make 26 staff redundant, following events "which were entirely unexpected and not of our making".

He said: "This move means the company will now be the right size for our current level of business and also positions us well for growth."