In yesterday’s conference call with investors following their disappointing second quarter results, Scholastic explained further some of their planned cost-cutting measures. They “have implemented a hiring freeze and are actively reducing staff levels in some areas, such as Book Clubs.” As a result, the company expects to take a “charge of approximately $10 million to $15 million in the second half of the year related to this cost-reduction initiative.” They also will not pay management bonuses for the current fiscal year.