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Future looking bleak

Future Publishing lays off 90 staff and shuts down half a dozen magazines

Future Publishing today became the latest gaming-related company to feel the pinch, with the company laying off 350 staff and shutting down twenty loss-making magazines worldwide. Amongst the casualties are 90 staff and several tech-related magazines here in the UK, including the recently launched "Video Gamer" as well as "WAP" and "DC UK". Also on the chopping block are "Best Games Ever" and "PlayStation Tips", both of which have been suspended. The company's Future Network websites will also be restructured as part of the sweeping changes, with the existing UK-based websites being replaced by a single "FutureNet" portal covering computing, games, technology, music and other topics.

"Future's overall circulation has clearly been affected by trading conditions, particularly the transition from PlayStation 1 to PlayStation 2", according to Managing Director Mike Frey. "Overall the portfolio is down but it's pleasing to see many of our core titles increase market share and such a strong start for our PlayStation 2 titles."

Source - CTW

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