booktrade.info - Book Trade News - Random To Axe 5% Of Staff

book2book

Thursday 9th February

Random To Axe 5% Of Staff

Posted 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.

Share |

Get book trade news by email

Daily book trade headlines and breaking publishing news by email - just £3 a month. Click on the Subscribe button below to sign up now

Find out more

More Book Trade News

GigaOm Buys PaidContent
www.foliomag.com

Guardian News & Media sells after 3 years, takes minority stake in GigaOm

Author Solutions dances into the DIY e-book market with Booktango
reviews.cnet.com

Author Solutions, one of the largest self-publishers in the U.S., has entered the DIY e-book market in a big way with Booktango

HarperCollins Appears to Have Mixed Quarter
www.publishersweekly.com

HC UK had good quarter but HarperCollins US and international markets "had challenging comparisons to the prior year."

Publish And Let Your Peers Be The Judges
www.timeshighereducation.co.uk

Open-access online journal will speed release of data and encourage feedback

Ban On Same-sex Stories In Romance Competition Causes Outcry
www.guardian.co.uk

Romance Writers Ink's 'More than Magic' contest accepts vampires and werewolves but not gay and lesbian tales

Why Foreign Bestsellers Often Fail In Japan
publishingperspectives.com

How is a foreign author supposed to crack the Japanese book market?

[More Book Trade News]

Account Sign-In

Most Popular Stories