Last week it was revealed that internet firm moneysupermarket. com, based at St David's Business Park, Ewloe, was about to axe 54 jobs.

However, a consultation process with staff has resulted in the redudancies being kept to 29.

Company spokesman Ian Williams said it was "great news" that some jobs had been saved by re-assigning staff internally.

The company's Mortgage 2000 business, which provides mortgage services, will bear the brunt of the redundancies.

Mr Williams told the Leader it was no surprise that the mortgage side of the business was struggling, given the poor state of the housing market.

He said: "The consultation process has finished and the total number of employees who are leaving the business is 29, including both voluntary and involuntary redundancies.

"About two thirds of the redundancies are from Mortgage 2000, and the rest are scattered around the business in areas where there was overlapping and we were able to make savings.

"As we all know, the housing market is in a bad way so it's no surprise that Mortgage 2000 has been struggling."

The company, which employs nearly 700 people in total, admitted last week it was suffering the effects of the credit crunch, with managing director Stuart Glendinning saying it was a difficult time for everybody.

Moneysupermarket.com, the UK's leading price comparison website, was launched in 1999 by Simon Nixon, a former pupil of St Richard Gwyn Catholic High School, Flint.

It allows customers to compare cheap loans, mortgages and credit cards while its sister site travelsuper market.com offers holiday information on cheap flights and hotels.

Bosses say the internet side of the business is doing well despite increased competition from a number of new rival price-comparison websites.

"The business has become more competitive but we are maintaining our market share and are still growing.

"The internet side of things is still growing rapidly both in terms of revenue and profits", said Mr Williams.

Moneysupermarket.com was recently the subject of a takeover bid by the Canadian group Ontario Teachers' Pension Plan, which was rejected.

Shares in the company slumped 32 per cent earlier this year when bosses announced a potential £7m revenue blow due to loans provider First Plus stopping new business.