President Obama’s Moneygall coverage costs jobs at Irish broadcaster RTE

US visit adds to budget deficit at troubled station

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Obama enjoying a pint in Ollie Hayes in Moneygall, County Offaly

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US President Barack Obama has indirectly caused job losses at Irish state broadcaster RTE.

The Dublin based television and radio station is to axe another 200 jobs in the coming weeks as a cash crisis deepens.

Station bosses have admitted that the $4.5 million spent on covering President Obama’s visit to Ireland last year played a huge role in their current deficit.

Obama’s Irish visit and that of the Queen of England wiped out the $14.5million saved in cuts during 2011.

Instead RTE ended up with losses of over $20million forcing the latest round of voluntary redundancies.

The Irish Sun reports that Barack Obama’s visit to his ancestral home in Moneygall came as revenue fell by $25 million to $430 million.

The paper says that the broadcaster’s annual report, due to be published in the next fortnight, will show that commercial revenue was down over $10 million in 2011.

RTE is currently in the middle of a major drive to save $30 million through redundancies and other measures.

Over 250 employees applied to take voluntary redundancy last month - 50 more than needed.

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