Bath-based Future Publishing to shed 55 jobs
- 3 September 2013
- From the section Somerset
Magazine publisher Future Publishing said it is to make 55 staff redundant as part of a restructuring drive.
The firm, which employs about 900 staff in Bath, said in July that it wants to save up to £2.5m after recent performance was "below expectation".
It said the company's business model was still "primarily geared towards print" and it needed to be better aligned towards digital publication.
The firm said 55 roles were likely to be made redundant in London and Bath.
A spokesman said staff were being briefed, and a process of consultation would take place over the next month.
Chief executive Mark Wood said the company was now seen as a "leading player in the digital media revolution" and that nearly 60% of the firm's advertising came from digital markets.
"As Future becomes an increasingly digital business, we need to reduce costs and staff levels devoted to print products and downsize back office and support activities," he added.
"As a result, we are carrying out a redundancy programme which will affect selected, but limited areas of the company."
Mr Wood confirmed the move will involve 55 redundancies and the removal of an additional number of vacant posts.