MAIN NEWS HEADLINES
December 18 – December 25, 2008 Edition Macmillan Cuts
Across the Board
Update on Macmillan job cuts (Authorlink News, December 16, 2008)–Jean Feiwel and Simon Boughton are now senior vice president publishing directors of the newly formed Macmillan Children’s Publishing Group, reporting to group head Dan Farley. Holt Books for Young Readers publisher Laura Godwin will report to Feiwel. Margaret Ferbuson, now associate publisher/editorial director of FSG Books for Young Readers, will report to Boughton , as will First Seconds editorial director Mark Siegel. Michael Eisenberg’s job as associate publisher of FSG BFYR has been eliminated. FSG BFYR remains at its 18th St. offices and will not move to the Flatiron Building where other Macmillan divisions are housed.
NEW YORK, NY (Authorlink News, December 15, 2008) –Only a week after announcing a freeze on salaries of $50,000 or more, Macmillan Publishing has now cut 64 jobs across the board at both its trade and college imprints and at Scientific American magazine. The cuts represent about 4% of the U.S. workforce. Positions have been eliminated at all imprints.
CEO John Sargent said the company will unify its children’s divisions, bringing all under one to be called Macmillan Children’s Publishing Group. Dan Farley will head the new group and also will continued to oversee Henry Holt.
Sargent said the company s trying to "bring some leverage to this market." As part of that effort, Macmillan will form a dedicated sales force for the children’s division. The centralized restructuring will help Macmillan operate more efficiently. He said Macmillan will not reduce the size of its list.