• Skip to main content
  • Skip to primary sidebar
  • Login
  • Register

Publishers Lunch

The Publishing Industry's Daily Essential Read

  • Publishers Marketplace
  • Site Guide
  • Help

A Higher Estimate of Job Cuts at HMH

January 14, 2009
By Michael Cader

The WSJ, citing “a person familiar with the situation,” now puts December job reductions throughout Harcourt Houghton Mifflin parent company Education Media & Publishing Group at “some 700 people.” The company has “firing staff, outsourcing functions, buying fewer new books, and phasing out some textbooks for the past year” to keep up with its enormous debt load. Recent articles on questions raised by credit ratings agencies have questioned whether the company is anywhere near compliance with a required leverage ratio (a comparison of debt to ebitda) of nine–but now the Journal adds that the company’s loans stipulate that ratio “must […]

Login to read full story

Filed Under: Finance

sidebar

Primary Free Sidebar

Login


Forgot password
Quick Pass users click here to log in
Get Full Access
The publishing industry's essential daily read

Each Publishers Lunch Deluxe subscription includes full access to our searchable multi-year archive of industry news, a nightly email reporting 10 to 50 deal transactions, and our database of industry contacts, scripts, and posting privileges.

Learn More

RSS Automat

  • New Contributing Writers to The Washington Post's Book World October 3, 2023 Washington Post
  • How Lester Del Rey "Invented Fantasy Fiction As We Know It" October 2, 2023 Dan Sinykin Excerpt, Slate
  • John Grisham's "Enduring Charm" October 2, 2023 Time
  • Michael Lewis Writes Sam Bankman-Fried "Was Told" Trump Wouid Drop Out of Presidential Race for $5 Billion October 2, 2023 Washington Post
  • If or When Amazon Wants to Identify Books Made By AI, Software Detection Companies Say They Are Ready September 29, 2023 Wired
  • Cundhill History Prize Shortlist Announced September 28, 2023 Prize site
  • Nobel for Literature to be Announced October 5 September 28, 2023 NYT
  • With Sales Down 30% on Book Bans, Levine Querido Authors Raise Over $100,000 In Auction September 27, 2023 PW
  • Taylor & Francis to Make Voluntary Separation Offer; Threatens Layoffs to Follow September 25, 2023 Bookseller
  • Rupert Murdoch to Retire from News Corp and Fox Boards September 21, 2023 NYT
© 2023 Publishers Lunch. All Rights Reserved.