HarperCollins US lays off ‘small number’ of employees

HarperCollins US has eliminated ‘a small number of positions’ due to slowing industry sales and rising costs, reports Publishers Weekly.

In a memo to employees, CEO Brian Murphy said job cuts had come as ‘leaders across the company have implemented changes to some team structures’. HarperCollins US is also reducing non-essential travel and expenses, and ‘pausing on the majority of hiring for open positions’.

‘Balancing our future success with the present business environment is never an easy task, but it is especially difficult in a climate with so much uncertainty,’ Murray wrote. ‘With continued costs pressures across all areas of the supply chain, and ongoing uncertainty about the remainder of the fiscal year, we need to control costs and operate as efficiently as possible.’

In August, HarperCollins reported its global revenue grew 10% in the financial year ending 30 June, however its profit, which was affected by higher manufacturing and freight costs, ongoing supply-chain issues and inflationary pressures, grew just 1%.

Category: International news