Magazine publisher Future PLC is to cut around 100 jobs based in the UK and worldwide – in a move favouring digital over print.
The job losses are expected due to “restructuring” in the company, following a 5 per cent circulation revenue fall in the past nine months.
In a statement, it said the websites were performing well and the main problems were in America.
In an email to staff, Future Publishing UK CEO, Mark Wood, said restructure would be likely to result in about 10 per cent of the firm’s workforce being made redundant. This however, would mostly be through voluntary redundancies.
The company – which publishes around 80 magazines and has 1,000 staff in Bath – said advertising revenue from its websites has offset a decline in print-related income.
The business is executing its operational review of geography and function, to accelerate the move of the US business to one that is a primarily digital business model, simultaneously reducing volatility associated with print data flows, and to reorganise the UK business, re-calibrating it to ensure faster adaptation to digital and more efficient execution of print.
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.
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