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02/10/2009
'Net News' Jobs Lost
Sixteen jobs are to go with the closure of the news service, Independent Network News (INN).
Chief Executive John O'Connor confirmed that the company will cease operating from October 20 with the loss of 16 journalists' posts.
Mr O'Connor cited a collapse in advertising revenue, the firm's primary source of income, as the reason for the closure.
"Unfortunately the company is no longer financially viable and is making unsustainable losses on a monthly basis, to the extent that the board, having considered all other options, has been left with no alternative but to arrive at this very difficult decision," Mr O'Connor said.
The announcement was made to 16 employees earlier yesterday at INN headquarters, Lower Mount Street, Dublin.
(BMcC)
Chief Executive John O'Connor confirmed that the company will cease operating from October 20 with the loss of 16 journalists' posts.
Mr O'Connor cited a collapse in advertising revenue, the firm's primary source of income, as the reason for the closure.
"Unfortunately the company is no longer financially viable and is making unsustainable losses on a monthly basis, to the extent that the board, having considered all other options, has been left with no alternative but to arrive at this very difficult decision," Mr O'Connor said.
The announcement was made to 16 employees earlier yesterday at INN headquarters, Lower Mount Street, Dublin.
(BMcC)
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