FT. COLLINS, Colo. (BRAIN) — Future PLC's cycling magazines and websites in North America and Europe will be unaffected by recent changes and layoffs at the company, a Future executive told BRAIN on Monday.
Future owns the websites Cyclingnews.com and Bikeradar.com and the magazines Cycling Plus and Pro Cycling. The U.K-based company has about five cycling editors and writers in North America, plus a few sales reps, said Nathan Forbes, Future's North American advertising manager for its cycling titles.
Future announced last week that it was realigning its U.S. resources to respond to a rapid change from print to digital. The company said it was moving print-related jobs from the U.S. to the U.K., resulting in layoffs of about a third of Future's U.S. staff.
But Forbes said the layoffs will not affect Future's sport titles.
"There are no changes in the cycling space at all on either side of the pond," Forbes said.
On March 14, Future warned investors to expect an earnings report well below expectations. Future stock prices plummeted and a week later Future CEO Mark Wood stepped down. CFO Zillah Byng-Maddick will take over as CEO.
Future is traded on the London Stock Exchange under the symbol FUTR. Its stock performance is tracked on BRAIN's Industry Stocks page.