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Random To Axe 5% Of StaffPosted at 5:29PM Wednesday 04 Mar 2009 Random House is to make around 5% of its staff redundant in response to what Gail Rebuck described as rising costs "from the paper we use to the overall costs of our author advances, all exacerbated by the severe financial downturn". Rebuck blamed the cash impact of the collapse of EUK and the withdrawal of credit insurance from an increasing number of Random's customers as contributing factors.The company will enter a statutory 30-day consultation period.
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