Bath-based media group Future has launched a 45-day consultation with its entire 900-strong workforce on a major restructuring of the business which it has admitted will lead to job losses.
Staff, including the 500 working in its Bath headquarter, have been told by bosses that the company badly needs to cut costs and adapt the way it works as it faces up to the challenges of a rapidly-changing market. 
In a straight-talking email sent to all staff earlier this month, chief executive Zillah Byng-Maddick said that Future’s business model was not “working hard enough” and admitted “this isn’t sustainable in the medium term and needs to change”.
While jobs will go in Bath – the exact number will not be revealed until the end of the consultation period – the city could benefit as jobs are moved here from London. Insiders say its games print publications team will head to Bath.
Among the changes are a full-scale review of the way teams work across its portfolio of digital and print titles, which include market-leading gaming publications such as CVG, Edge, Gamesmaster, Gamesradar, Official Xbox, Official PlayStation and Official Nintendo. Future also runs the Golden Joystick Awards and operates the UK arm of Kotaku.
Future’s hobby titles include T3, Cycling Plus, Total Film and Mollie Makes.
Instead of working for individual titles, staff will be expected to work across any publication within the group. A number of magazine websites, including Edge, Official Xbox and Official PlayStation could close.
Its board and management teams will also be heavily streamlined, according to reports. Staff have said they have been encouraged to contribute ideas to improve the business and remove costs.
The full-scale review and jobs cuts is the latest shake-up to rock Future, which has enjoyed mixed fortunes for more than two decades.
Launched in 1985 by former local newspaper journalist and ex-Bath schoolboy Chris Anderson from a bedroom in his parents’ house, it went on to become one of the UK’s leading specialist magazine publishers, doubling its revenue, profit and staff in each of its first seven years.
It sold millions of magazines to gaming fans and struck lucrative deals with console makers such as Sega and Nintendo to publish their official titles.
Having sold it to global media group Pearson for £52.7m in 1994, Chris Anderson bought it back, with a group of investors, four years later for £142m.
Today Future is a digital leader in the UK, drawing 60m unique users to its websites each month. It has a 23% market share in audited digital magazines sold on tablets.
However, it has continued to struggle financially. Earlier this year its share price collapsed by more than 30% in one day when it warned shareholders to expect profits “significantly below” market expectations – its second profits warning this year.
Ms Byng-Maddick, a former chief financial officer and interim chief executive at Trader Media Group, publisher of Auto Trader, joined as chief finance officer last October, stepping up to become chief executive on April 1 when Mark Wood resigned from the post – a role he had for three years.
Future publishes its interim financial results for the six months to March 31 next Thursday.
