Amid financial difficulties, two major executives from British video game magazine publisher Future PLC have immediately resigned from their posts.
CEO Stevie Spring and finance chief John Bowman both resigned Thursday, according to Reuters
, and have immediately been replaced by former UK division head Mark Wood and former financial director Graham Harding, respectively.
The move is part of a major corporate restructuring that may see video game magazines shutting down
as the company transitions to a primarily digital business.
A statement from Future regarding the resignations was surprisingly frank, with a representative saying that its corporate restructuring "has allowed the Board this opportunity to achieve substantial savings by eliminating an entire tier of corporate overhead."
Earlier this year the company saw a 10 percent staff cut in its UK division. The company has warned that its full fiscal year results, which ended September 30, will likely be down due to a troubling Q4.