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Future Publishing UK is set to lose 100 staff following a drop in group revenues, according to BikeBiz’s sister site MCV.
The unfortunate news was apparently revealed today in a memo to staff from Future CEO Mark Wood, explaining ten per cent of the 1,000-strong UK workforce is to be made redundant. Initially staff will be invited to take voluntary redundancy, after which a consultancy period will take place.
A nine-month interim management statement earlier revealed group revenues were down five per cent year-on-year.
The full story is here.
