As previewed just about a month ago, Houghton Mifflin Harcourt updated investors in an SEC filing on Tuesday on their planned restructuring. Their “organizational design change actions,” which will be “substantially complete” by the end of May 2017, are expected to reduce their employee count “by approximately 8 percent to 10 percent across [their] various locations.” As of the end of 2016, HMH had about 4,500 employees, so that suggests layoffs of roughly 360 to 450 people in all. They now say that the various changes planned will result in total charges of approximately $41 million to $45 million. Severance and other termination […]
