The Connacht Tribune media group is to shed staff as part of a restructuring plan relayed to staff yesterday.

At least 12 voluntary redundancies are being sought from a staff of 45 attached to three newspapers published by the group – The Connacht Tribune, City Tribune and Connacht Sentinel.

Union sources say the restructuring is aimed at servicing a debt occurred in 2006 when the group purchased Galway Bay FM radio station, having previously owned a 27 per cent share.

Redundancies are being sought across the group in advertising and editorial. The main newspaper, which is one of the country’s largest selling regional publications, was established in 1909.

Accumulated profits at the Connacht Tribune media group last year declined by €234,447, according to figures published earlier this year. Separate figures showed that the radio station continued to be the best performing entity in the group.

The company was unavailable for comment last night.