Former longtime CEO of Simon & Schuster from 1975 to 1994 Richard E. Snyder, 90, died at home in Los Angeles on June 6. During his tenure at S&S, the company grew to become the largest book publisher in the world for a time. His death was reported by his son, Matthew Snyder. The publisher said in a statement: “Dick Snyder led Simon & Schuster through some of its most storied and eventful years. He built Simon & Schuster into one of the largest and most influential publishing companies in the world, known for headline-making nonfiction, bestselling fiction and timeless […]
Archives for June 2023
Abrams Lays Off More Staff
Abrams has done another round of layoffs across departments, following a round in April. The company declined to comment on the number of people fired. They say in a statement, “Abrams, like many in publishing, is having a challenging year. Consequently, Abrams has implemented workforce reduction measures affecting departments across the company. Changes to our operating structure are important to set the foundation of growth for the company. While we are deeply aware of the concerns this raises with our employees, we are also aware that the future of our business depends on these changes which will lead to finding […]
PRH to Combine Production Departments
Penguin Random House has initiated the process of centralizing production, managing editorial, and production editorial into single company-wide departments servicing all divisions and imprints, ceo Nihar Malaviya announced to staff on Wednesday. One clear objective is efficiency, as Malaviya writes: “When fully implemented, this new structure will better serve our authors by utilizing resources efficiently, exploring new technologies, and standardizing processes where it makes sense. And bringing teams together will expand professional-development opportunities for our production, managing editorial, and production editorial colleagues while scaling our established excellence and expertise in bookmaking.” He also says, “This change will ensure that book […]
Four Indigo Directors Resign; Reisman to Retire In August
Four of the directors at Canadian retailer Indigo have stepped down. One the four, Dr. Chika Stacy Oriuwa, “indicated that she was resigning as a director because of her loss of confidence in board leadership and because of mistreatment” according to the company’s press release. No reason was given for the resignations of Frank Clegg, Howard Grosfield, or Anne Marie O’Donovan, which leaves the company with seven directors. Additionally, controlling owner Heather Reisman announced that she will retire and step down as executive chair and a director as of August 22. “The time has come for me to retire from […]
Trade Sales Flat in March
The AAP released StatShot results for March, with trade sales flat at $647 million. Adult sales totaled $440 million, up 6.5 percent ($27 million) from last year, with hardcover sales of $131 million and paperback sales of $158 million. Ebooks jumped up by 15.4 percent to $74.7 million, while digital audio continued its growth, up 13.4 percent to $55.4 million. Over half of the adult sales gain came from lower returns, which fell by $15 million. In children’s and YA books, sales were down 11.5 percent to $207 million. Hardcovers sold $77 million and paperbacks sold $98 million. Kids ebook […]
Behind the Minimum Wages at Indie Bookstores
Our reporting on compensation in different segments of the publishing industry continues with independent bookstores, where low pay seems like a foregone conclusion. Though indies have grown and diversified in recent years, sustaining workers—and in some cases, the stores themselves—is an ongoing challenge. Some stores, such as Tattered Cover in Denver and Powell’s in Portland, OR, are essentially corporations or mini-chains with multiple locations and HR departments, while others, such as Astoria Bookshop in Queens, have one storefront and fewer than 10 employees, including the owner. The growing unionization of individual bookstores around the country has helped secure pay and […]