Layoffs at PRH US

Penguin Random House US has reportedly made redundancies in publishing groups and functions across the company while a number of senior editors have taken redundancy. 

According to Publishers Marketplace, there are thought to be around 60 staffers being let go. Editors at Daniel Halpern at Knopf and Cal Morgan at Riverhead are believed to be affected according to Associated Press. 

Interim c.e.o. Nihar Malaviya wrote to staff about the restructure on Tuesday morning (17th July), seen by Publishers Weekly: “We are half way through 2023, and while the book market has grown, particularly over recent years, we have also faced significantly increased costs in all areas across the board, and we expect these increases, as well as inflation, to continue. 

“We have been taking various actions over the last months to adapt our business to these market realities, and I’m sad to share the news that yesterday some of our colleagues across the company were informed that their roles will be eliminated.  

“We long sought to avoid these actions, but unfortunately could not do so. This was the hardest decision I have had to make as a leader.” 

Malaviya noted that affected employees were given “a notice period of nearly two and a half months” and “we will also work with them to explore any internal openings that are currently available".

The news is one of several cost management measures taken at the company this year including a voluntary separation offer (VSO) for older employees, announced in May. Nearly half of eligible employees have taken up the offer, it was revealed earlier this month.

According to Associated Press, the VSO will focus on Knopf, where senior editors Ann Close, Jonathan Segal, Shelley Wanger and Vicky Wilson are taking the VSO among colleagues in sales, production and publicity. 

The Bookseller has contacted PRH US and UK for comment. PRH UK confirmed the changes would not affect staff in the UK.