In typically craven corporate-speak, Houghton Mifflin Harcourt announced mass firings this morning: Approximately 525 employees have been let go effective immediately. Earlier in September, the company noted that 166 employees had read the tea leaves and participated in their early retirement plan. The two moves combined have eliminated approximately 22 percent of the workforce (roughly taking them from 3,300 employees down to 2,600 people). Other savings include a “reduction of manufacturing costs as the business shifts from print to digital offerings” and “a streamlining of back office costs as legacy systems and print-centric processes are retired.” The company estimates that […]