Report: Future Publishing Cutting 100 Jobs

July 18, 2011 -

According to several reports on Friday and over the weekend international magazine publishing company Future Publishing has cut an estimated 100 jobs. The company issued an interim management statement, revealing that its print business continued to decline in the UK and U.S., saved mainly by its improved performance from the digital publication sector. The report covers the nine months ending June 30, 2011 and gives some indication of where the company will be focusing its efforts in the years ahead.

Group revenues for that nine-month period dropped by an estimated five percent compared to the same period a year ago. UK circulation revenues fell by 3 percent, but revenue from digital advertising made up the shortfall by performing above expectations. In May 2011 the group's UK digital revenues topped £1 million for the first time.

US print sales decreased as well, with the company saying that it is "actively discontinuing subsidised magazine subscriptions" in the US and has had to delay an unnamed digital product launch worldwide.

"As a result the Board has decided to accelerate transition of Future US into a primarily digital business. This process may take 12 to 15 months, to allow time for existing subscriptions and other contractual obligations to be fulfilled."

The company also announced that it will cut jobs at numerous publications:

"The benefit of these steps will be to improve efficiency, reduce headcount, reduce property requirements, and help accelerate the most promising areas of digital product development," reads a section of the report on "re-structuring and exceptional costs."

GameIndustry.biz claims that Edge, Computer & Videogames, and GamesRadar will see 100 jobs cut in the UK. Further, the publication claims that at least one magazine will shut down.

We will continue to follow this story as it develops.

Source: GameIndustry.biz


 
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PHX Corphttp://kotaku.com/sources-warner-bros-knew-that-arkham-knight-pc-was-a-1714915219 Sources: Warner Bros. Knew That Arkham Knight PC Was A Mess For Months07/01/2015 - 11:49am
Andrew EisenIf you do, I hope you can provide some examples of people (again, other than random no-name numbnuts on Twitter) who are genuinely trying to dictate what should and should not be allowed so far as themes, topics, language, plot devices, etc. go.07/01/2015 - 9:43am
MattsworknameI'd go into why I think it's a bigger problem then most realize, but nows not the time really. I'll catch up with everyone later07/01/2015 - 9:42am
Andrew EisenThat's the thing though, rarely is anyone (again, other than random numbnuts on Twitter) attempting to dictate what can and cannot be said or done.07/01/2015 - 9:39am
Andrew Eisen"Don't write rape scenes" is being offered as advice (along with reasons for that advice) not a mandate.07/01/2015 - 9:37am
MattsworknameOh, on that last one andrew I wasn't talking about the article, I was being more general, lately it seems like all the news and media is trying to decide what is and isn't proper to say. Thats what i was refering to.07/01/2015 - 9:37am
Andrew EisenPerhaps you should consider reading the entire article. Despite quotes you can pull from the intro and conclusion, the author isn't arguing that you can't or shouldn't be allowed to cover a certain topic.07/01/2015 - 9:35am
MattsworknameOne of the things I hate right now is that people are trying to be the deciders of what is and isn't proper to be said. It's political correctness to a level that makes me angry.07/01/2015 - 9:29am
Mattsworknamemake them, i just tell peopel that I think what they did sucked. Just cause I dont like what they did, doesn't mean I can tell them "You shouldn't wrtie that" cause thats just another step on the way to telling them "YOU CANT WRITE THAT".07/01/2015 - 9:24am
MattsworknameNo, but you or I aren't the one to tell someone else what they can or cannot do beyond EXTREMELY narrow limits. Telling a person then shouldn't write something or say something. I may hate certain movies or music, doesn't mean I dont' tell peopel not to07/01/2015 - 9:23am
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TechnogeekImagine that level of accuracy, only applied to something that has actually caused physiological and psychological trauma in more cases than just whatever the equivalent of the CD-i Zelda games would be.07/01/2015 - 8:40am
TechnogeekThat's the issue I see as well, E. To put it in terms anyone reading this site will likely understand: you know how any time video games show up on TV, they feature absurdly outdated 3D graphics and/or audio from the Intellivison era?07/01/2015 - 8:40am
InfophileWell, you CAN go to a crowded streetcorner and tell everyone who passes by your social security number and bank account PIN, but you shouldn't. Is that censorship?07/01/2015 - 8:36am
E. Zachary KnightSo if it is going to turn out to be a bad scene, why even bother writing it?07/01/2015 - 8:07am
E. Zachary KnightMatts, Goth, The article, and others I have read making the same conclusion, state that most people fail in their attempts to write rape scenes without being overly offensive or overly incompetent in their attempt.07/01/2015 - 8:07am
Adam802http://www.sfgate.com/news/article/Ex-Sen-Leland-Yee-may-be-headed-for-a-plea-deal-6358941.php07/01/2015 - 7:12am
Adam802Possible plea deal in Yee case: http://www.mercurynews.com/crime-courts/ci_28408532/leland-yee-case-plea-deal-appears-likely07/01/2015 - 7:11am
MattsworknameInfo, Im with goth on this, the moment people start saying "You can but you shouldnt" thats a slow slide into censorship07/01/2015 - 6:05am
InfophileIn other words, you stopped when you found out it was arguing for a position you disagreed with, but before you found out why.07/01/2015 - 5:29am
 

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