CVG Faces Closure Amid Severe Future Cuts
Long-standing games publication falls victim to lay-offs
From CVG's print days
Future Publishing's CVG games site is facing closure as the parent company looks for ways to make its business model 'work harder'. Or, if you prefer to get to the point, as Future looks for ways to cut staff and get what it needs from fewer warm bodies.
Every staff member at the publisher has been put on a 45-day consultation, but according to MCV (citing sources close to Future's management) CVG looks set to be shut down.
The changes will be sweeping across the board, with Total Film in particular facing significant changes. Other games websites Kotaku UK, PC Gamer and Gamesradar appear to be safe for now.
Future boss Zillah Byng-Maddick recently told staff that the company's business model was not 'working hard enough'. It's believed that the company wants to bring its editorial staff into a central pool.
This comes on the heels of a series of poor results and a profit warning in March that caused a significant drop in the company's share price. The share price drop was promptly followed by Mark Wood stepping down as CEO and the appointment of Byng-Maddick.
Every staff member at the publisher has been put on a 45-day consultation, but according to MCV (citing sources close to Future's management) CVG looks set to be shut down.
The changes will be sweeping across the board, with Total Film in particular facing significant changes. Other games websites Kotaku UK, PC Gamer and Gamesradar appear to be safe for now.
Future boss Zillah Byng-Maddick recently told staff that the company's business model was not 'working hard enough'. It's believed that the company wants to bring its editorial staff into a central pool.
This comes on the heels of a series of poor results and a profit warning in March that caused a significant drop in the company's share price. The share price drop was promptly followed by Mark Wood stepping down as CEO and the appointment of Byng-Maddick.
Companies:
Future Publishing
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