Follett Lays Off 570 Bookstore Employees
Follett Higher Education Group, a division of Follett Corp., has laid off almost 10% of its 6,000 full-time employees. The move, the company claimed, would allow Follett to grow as customer shopping trends evolve. The layoffs affected 400 stores out of the 980+ college and university bookstores operated by Follett. Laid-off employees can apply for new part-time positions.
Penguin Random House Canada Merges Sales Forces
Penguin Random House Canada has merged its separate sales forces into a unified group. As a result of the integration, five jobs were eliminated.
Earnings Rise 8% at HC Despite Sales Drop
A couple of one-time events contributed to a 7% drop in revenue at HarperCollins for the first quarter ended Sept. 30, 2013, but EBITDA rose 8%, to $43 million. The U.S. general books and children’s groups had a solid quarter, and total e-book sales rose 30% in the period.
S&S Reorganizes Adult Production Department
Simon & Schuster has created a new structure in its adult production and manufacturing division, which will “further integrate the design and creation of e-books into the earliest stages of our overall production process,” wrote Dennis Eulau, executive v-p, operations and CFO, in a memo to employees. The new structure places four executives in charge of different parts of the department and will result in the departure of two S&S veterans, Karen Romano, v-p, production and manufacturing, and Nancy Singer, director, interior design.
HBG Bright Spot for Lagardère
Third-quarter sales at Lagardère Publishing fell 7.3%, to €580 million, but sales were up 11% at its American subsidiary, Hachette Book Group.