Tiso Blackstar is undergoing a restructuring process, according to a report by eNCA.
The report stated that the move will affect its print and digital publications.
One of the main casualties will be The Times, which management said as a print product, “cannot continue in its current format”.
The newspaper’s print edition will cease to circulate and it will be replaced by a digital-only edition.
Staff with the “necessary skills, qualifications, and expertise” would be retained, the company told staff in a letter. Those who will be retrenched will know by 31 January 2018.
“The company’s media division is under significant pressure. This has resulted in lower circulation and advertising income for the company,” it said.