In a move that will affect nearly four percent of the company, Macmillan Publishing cut 64 jobs and consolidated all its children’s imprints into a single “Macmillan Children’s Publishing Group” today.
Reportedly, the cuts will be spread over different imprints–Macmillan includes Farrar, Straus, and Giroux, Picador, and St. Martin’s Press, among others.
Publishers Weekly has the news: “[CEO John Sargent] declined to discuss how the cuts played out among Macmillan’s different imprints, but noted that positions were eliminated in all imprints. According to sources, about 10 of the positions cut came at Scientific American. Sargent had no comment on that number.”
This news comes on the heels of a Macmillan US memo last week that announced a 2009 pay-freeze for all employees who earn more than $50,000.