Nearly half of employees eligible for PRH US’ voluntary separation offer take it up

Nearly half of all employees eligible for a voluntary separation offer (VSO) from Penguin Random House US have reportedly taken up the officer.

The offer was made in May to employees aged at least 60 and who had been at the company for at least 15 years, and staff had until 20th June to make a decision. Now, according to Publisher’s Weekly, 49% of eligible employees have taken up the offer. Those who have done so will leave the company on 1st September. 

PRH US’ offer followed previous buyout offers from Hachette Book Group in March (to employees over 50) and HarperCollins (to those with more than 25 years of service). PRH’s offer was described as a benefit to “support our colleagues professional and personal lives” and “responding to the needs and desires of our long-tenured employees.” PRH US declined the Bookseller’s request for further information.

The publisher told Publishers Lunch: “The VSO is an entirely voluntary offering and there are no set numbers expected. It is a programme that can address requests and needs of long-tenured employees as well as potentially reduce costs for PRH.

“Separate and apart from the VSO, the economic reality of our business has changed due to strong headwinds, and we must always continue to explore ways to achieve sustainable savings and efficiencies, alongside new growth strategies and any changes could, as ever, potentially affect some of our programmes and people.”

Earlier this week, Marcus Dohle, former c.e.o. of PRH, was appointed to the board of Canada’s largest bookstore chain, Indigo Books & Music, the latest in a number of industry boards – such as the PEN America board, and the National Book Foundation board – Dohle sits on, though not representing Penguin Random House.