Layoffs at PRH US

In the US, Penguin Random House (PRH) has confirmed in a letter to staff it has made a number of layoffs in addition to its previously announced voluntary redundancy plan, reports Publishers Weekly.

In the letter to staff, PRH CEO Nihar Malaviya confirmed that some roles across the company had been eliminated. ‘As you know, the book marketplace has had several shifts over the past years,’ Malaviya wrote. ‘At Penguin Random House, we, too, have experienced these shifts and changes, especially during the last months. We are halfway through 2023, and while the book market has grown, particularly over recent years, we have also faced significantly increased costs in all areas across the board, and we expect these increases, as well as inflation, to continue.

‘We have been taking various actions over the last months to adapt our business to these market realities, and I’m sad to share the news that yesterday some of our colleagues across the company were informed that their roles will be eliminated. Everyone being affected has been informed directly in individual meetings. We long sought to avoid these actions, but unfortunately could not do so. This was the hardest decision I have had to make as a leader.’

The number of layoffs hasn’t been confirmed. Publishers Weekly previously reported that about half of those eligible for PRH’s voluntary separation offer had taken them.

Category: International news