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Media
Future Publishing to cut 10% of its workforce
By CMU Editorial | Published on Monday 18 July 2011
Future Publishing, which publishes Metal Hammer and Classic Rock among many other titles, has announced a restructure which could result in about 100 job losses.
Although digital sales are up, overall Future revenues were down 5% over the last nine months, it was revealed this weekend. CEO Stevie Spring said she remained confident about her company’s future, but that they were rolling out a “different form of publishing” model to safeguard that future.
In an email to staff, Future’s Mark Wood admitted that restructure would likely result in about 10% of the firm’s workforce being made redundant, though the company said it hoped it could downsize through voluntary redundancy.
It’s not clear how the changes will affect Future’s music titles which, although generally fairing better than their rivals, are nevertheless operating in an insecure market.
