One Caribbean Media Limited (OCM) has terminated the services of 49 employees.
The move is both part of a restructuring exercise undertaken by the company and a result of declining revenues in recent years.
OCM’s subsidiaries include CCN, Trinidad Express and TV6.
The workers were served the retrenchment letters this week and their respective union representatives and the Ministry of Labour have been notified.
A statement from Group CEO Dawn Thomas, said: “The media industry has been going through fundamental changes mainly due to technological developments in the digital space.
“Additionally, the economic environment has been challenging and in decline for several years.”
She said these factors have negatively affected its advertising revenues as clients have cut their advertising and marketing budgets “as they too struggle with a decline in their business performance.
Before the retrenchments, the management team “explored all possible actions during its restructuring exercise including cost reduction measures in all areas.”