Big 5 publishers Hachette Book Group (HBG) and HarperCollins have begun offering voluntary severance packages to employees with long-term service.
According to UK book trade publication The Bookseller, the offer is to staff over 50 years old and with at least 15 years’ service and is exclusive to US-based employees
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“In a message, Michael Pietsch, HBG CEO, said its voluntary resignation packages come in response to negative trends,” says Andrew Albanese, Publishers Weekly senior writer.
“For HarperCollins, this move is part of a previously announced plan to trim its workforce by 5% and part of that process is to offer these voluntary severance packages,” he tells me.