Share Radio cuts six full time jobs to save money
The radio station all about giving financial advice is making six full-time staff redundant because outgoing costs are too high.
Share Radio currently makes £2 million in annual losses but is looking for new investment of £2.5m.
Station founder Gavin Oldham told ThisisMoney: “The burn rate of cash is just too high. We’ve got to make some economies in our operations. I am really sorry to have to do it.”
Prospective investors were excited by Share Radio’s output, but felt the costs of the business were too high, reports the website.
Listen to an edition of the RadioToday Programme with Gavin Oldham, shortly before the station launched in 2014.