Tuesday, December 16, 2008

Macmillan Announces Cuts

Publishers Weekly issued an alert yesterday afternoon. Here it is in part:
Macmillan Publishing has eliminated 64 positions across both its college and trade imprints as well as Scientific American magazine. The cuts, which range across all aspects of the company, involve just under 4% of Macmillan’s U.S. workforce. As part of the restructuring, the company is forming a new unified children’s publishing division that will bring all of its imprints under one umbrella, said Macmillan head John Sargent . . .

“We looked at the realities of the business and felt we could operate more efficiently by centralizing some processes,” Sargent said. He said reducing the size of the Macmillan list “is not part of the plan” . . .

The cuts come one week after Macmillan announced that it was freezing salaries for all employees earning over $50,000.

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