Future bosses say they have made salary cuts to reduce layoffs.
The official Xbox magazine was closed, Xbox has learned.
Oxm worked last week, and the last staff of the magazine were released. Xbox assumes that OXM is one of six magazines closed at the Bath-based media company Future, although it is the only gaming magazine among them.
The closure of OXM takes place in the same year, in which Microsoft plans to publish his next console, Xbox Series X,. Only a day ago the OXM Twitter account has announced an OXM subscription.
In a statement, Future from Bath said, the decline in retail video games had affected the sales figures of his magazines and insisted that the executives would have made salary cuts to restrict the number of layoffs to an absolute minimum.
How many organizations at the moment are we forced to make difficult decisions, it says in the statement. In this time, we are committed to care for all employees and focus on protecting the business for them and our customers. We have introduced a number of measures to limit the number of layoffs to an absolute minimum, including significant wage cuts for our leadership team and our board. While the decline in retail frequency affects our journal business, we are well positioned with a significant digital audience and diversified sales in order to continue to meet the changing needs of our customers at this time.
OXM was founded in November 2001 with the start of the original Xbox. Future paid Microsoft a license fee for publishing the official magazine of the console. There was once an OXM website, but content from the magazine as well as OPM and EDGE of Future have found their way to Gamesradar for some time. PC Gamer retains its own website.
It seems that Future makes significant changes to his video game publications. Last week editors have sent e-mails to freelancers, in which they were warned against budget cuts. All of this comes to a worrying time for the video game industry and the self-employed, as the coronavirus attracts the normality.