Houghton Mifflin Harcourt formally announced plans to cut costs over the next 21 months last Thursday, telling employees and then investors about “certain proposed operational efficiency and cost-reduction actions.” The company said in February after another dismal quarter that included a $139 million impairment charge to expect “strategic cost cutting to simplify the business and help enable the company to reinvest for future growth,” noting they had engaged Boston Consulting Group on “steps to improve its operational efficiency and right-size its cost structure.” Similar language is repeated in the recent SEC filing. Top executives are safe but otherwise they said to expect layoffs, office […]
