Silicon.com, the high-profile IT news site, is making a number of redundancies in an effort to ride out the downturn.

About 10 people are understood to have been axed by the company, which was one of the first to offer IT and technology news on the web.

The parent company, Silicon Media Group, said the cuts were the result of a review of its cost structure.

As it could not predict when the economic climate would improve, it was managing its business on the most prudent basis, the company said.

The company said in a statement: "As part of the review of the business's cost structure, we have had to make certain positions redundant.

"We have minimised the number of positions we have had to make redundant but, along with many other businesses in the sector, staff losses are a necessary part of reviewing cost structure."

Earlier this year, Silicon.com defied the dot.com slump by securing £14m in third-round funding from a variety of backers.

It claimed the amount would be enough to see it through to profitability.

Overseen by the chief executive and founder, Rob Lewis, the company launched sites in France and Germany and hired the former Channel 5 chief executive, David Elstein, as non-executive chairman.

Its main rival is ZDNet, the technology news site that was bought by US company, CNET, late last year.