Future Publishing Lays Off 55 Employees in the UK - NewsWilliam D'Angelo, posted on 03 September 2013 / 16,982 Views
The CEO of Future Publishing Mark Wood has announced that they have laid off 55 employees in the UK as it continues to restructure from a print based business to a digital publisher. Also positions are are not filled right now will remain unfilled.
"As we announced in July, we are restructuring Future in the UK to adapt it more effectively to the company's rapid transition to a primarily digital business model," said Wood in a statement to GamesIndustry International. "Future is now seen as a leading player in the digital media revolution and approaching 60% of our advertising now comes from digital markets. As Future becomes an increasingly digital business, we need to reduce costs and staff levels devoted to print products and downsize back office and support activities."
"As a result, we are carrying out a redundancy programme which will affect selected, but limited areas of the company," Wood continued. "This programme will involve 55 redundancies and the removal of an additional number of vacant posts."
Future Publishing has been struggling over the last year as it tries to keep up with the rapidly changing market. The games division was reshuffled and was renamed Future Film & Games. There was a warning of jobs being cut in July.