"The recent restructuring which positions the company for its digital future has allowed the Board this opportunity to achieve substantial savings by eliminating an entire tier of corporate overhead," Future said in a statement. The company's stock has dropped 60 percent this year.
The company ominously announced late last month that it was "considering a wider range of strategic options in respect of its US operations." Future US's magazine business currently includes all three official console magazines, PC Gamer and Best Buy's @Gamer. The company stated in July it plans to take the US to a primarily digital model.