Feeds

Future slashes 90 jobs in UK

Tech mags get a pasting - Business 2.0 up for sale

  • alert
  • submit to reddit

Remote control for virtualized desktops

Bath-based Future Network Ltd has slashed 90 jobs from its publishing operation in Britain and a further 240 in the US and Europe.

In all some 350 jobs are to be lost from a total workforce of around 2000. Twenty magazines are to be scrapped and the outfit is to prune its online activities as well.

Staff were told about the cuts this morning.

The company's flagship title for the ebusiness world, Business 2.0, may also be sold. The company has hired Morgan Stanley Dean Witter to look for a buyer or investor for the title.

According to a statement issued by Future, the job losses are designed to "streamline the company's portfolio, reduce operating costs, pay down debt and enhance profitability".

The magazines being ditched in the UK are: WAP, Digital Camera User, DCUK, Quick and Easy Windows, Your iMac, and Video Gamer.

Four Web sites are also be shut down. They are: mbuk.co.uk, sfx.co.uk, cross-stitch.com and totalfilm.co.uk.

The job losses are associated with all these titles and site plus some central services.

Last month Future issued a profits warning saying that the expected seasonal uplift in sales in the final months of 2000 failed to materialise. It expected sales for the year to be down three per cent to £253 million, down from an anticipated £260 million.

The outfit will publish its prelims for 2000 next month. ®

Intelligent flash storage arrays

More from The Register

next story
Bada-Bing! Mozilla flips Firefox to YAHOO! for search
Microsoft system will be the default for browser in US until 2020
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
Be real, Apple: In-app goodie grab games AREN'T FREE – EU
Cupertino stands down after Euro legal threats
'Cleantech' a dirty word for VCs? RUBBISH!
They just think the current schemes are terrible
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.