British magazine and media group Future Network said today it was streamlining operations by closing or selling 20 loss-making magazines and reducing its Internet spend.
The measure would lead to 350 jobs cuts globally, out of a total workforce of 2,000.
Its said the measures were designed to streamline the company's portfolio, reduce operating costs and pay down debt.
It will refocus its Internet activity on the company's most successful websites, by closing five sites and reducing staff in the US and the Britain by 75.
