Update 12/4: Also being reported are a freeze on raises at Penguin, a delay of pay increases (until after 7/1/09) at HarperCollins, and the elimination of 13 U.S.-based positions at Bowker.
Yep, that's what today is now being labeled in the publishing industry.
As reported by Publishers Lunch and Publishers Weekly:
Simon & Schuster
Simon & Schuster has "enacted a reduction in staff in which 35 positions across the company were eliminated, from areas including our publishing divisions and international, operations and sales," according to a memo from ceo Carolyn Reidy.
Despite having "literally examined our budget line-by-line to find those areas large and small where we might further economize," Reidy says "today's action is an unavoidable acknowledgment of the current bookselling marketplace and what may very well be a prolonged period of economic instability. In light of this uncertainty, we must responsibly position ourselves for challenges both near term and long."
Separately, Simon & Schuster Children's president Rick Richter has resigned "to explore other opportunities in publishing," leaving December 5. Rubin Pfeffer, senior v-p and publisher of the children’s group is also departing.
The first part of the Random House reorganization everyone has been expecting under new CEO Markus Dohle was announced this morning. President and publisher of the Bantam Dell group Irwyn Applebaum is leaving the company immediately after 25 years there. The publishing line itself is being absorbed by the Random House group, under Gina Centrello, along with the Spiegel & Grau unit that had been part of Doubleday. It puts the company's two big mass-market lines together in the same division, though Dohle says that they will "continue to have separate editorial departments."
The Doubleday Publishing Group has been disbanded. Knopf will absorb the Doubleday and Nan A. Talese lines, while the Crown group will incorporate Broadway, Doubleday Business, Doubleday Religion and WaterBrook Multnomah.
Thomas Nelson CEO Michael Hyatt announced that the Christian publishing house has laid off 54 employees, or 10% of its workforce. [...] the cuts, which take effect on Friday, affect almost all departments and were necessary because of the slumping economy.
Becky Saletan is leaving her post as publisher and VP of Houghton Mifflin Harcourt; her last day is December 10.
Galley Cat (www.mediabistro.com/galleycat) is reporting: "The shock waves just keep coming out of Houghton Mifflin Harcourt: Executive editor Ann Patty informed us this morning that she has been "fired," along with an unspecified number ("a lot") of other employees. "