Future to axe 90 staff in UK and close six titles

Future Publishing announcedon Friday last week it is to make around 90 UK staffredundant, as well as closing six UK titles, as part of a globalrestructuring which will result in the loss of around 350 jobs in totalworldwide, and the closure of some 20 loss-making publications.

The UK magazines to be axed are the recently launched Video Gamer,DCUK, WAP, Digital Camera User, Quick and Easy Windows,Your iMac, as well as the suspension of two occasional titles BestGames Ever and PlayStation Tips.

The Bath-based magazine publisher said the measures “form part of aGroup wide action plan for Future Network, designed to streamlinethe company’s portfolio, reduce operating costs, pay down debt andenhance profitability.”

The group has accordingly reduced its investment spend in 2001 by £5million, to below £15 million. One time restructuring costs are expected tobe less than £5 million.

The announcement follows yesterday’s ABC figures, which showed Future’sflagship Official PlayStation Magazine drop from 300,000 to 215,000 – afigure which was offset by the strong launch of Official PlayStation 2Magazine which recorded an initial three-month ABC of 81,883, withFuture increasing its PlayStation market share to an impressive 67 per cent.

Future Publishing’s MD Mike Frey commented: “Future’s overall circulationhas clearly been affected by trading conditions, particularly the transitionfrom PlayStation 1 to PlayStation 2. Overall the portfolio is down but it’spleasing to see many of our core titles increase market share and such astrong start for our PlayStation 2 titles.”

Meanwhile, the group plans to refocus its UK Internet activities onto asingle portal (FutureNet), which will offer a series of content channelscovering computing, Games, Technology, Creative, Music and Ebusiness.

Future said it will reduce overhead costs in the UK, covering advertisingdesign in Bath and production in London and a small number of managementand central services jobs, and also intends to relocate its London-basedfootball magazines to Bath.

Future said it will “take all possible steps to keep job losses to aminimum” and did not anticipated that any magazine editorial, art or salesjobs will be lost.

News page content input by Dominic Robinson, 2001.