Publishers Weekly‘s annual survey of publishing employees painted a grim picture of the book industry this week, reporting that a staggering 70 percent of the more than 1,400 respondents saw hiring freezes at their companies.
PW also found that eleven percent of polled employees felt “very insecure” about the state of their jobs–an all-time high for the survey. In addition, travel expenses, printing budgets, and bonuses were reduced for many respondents.
Check it out: “66% of industry members reported that their companies have reduced marketing budgets, and 63% have cut travel and entertainment expenses. A number of industry members also mentioned that their companies have reduced attendance at trade shows, and others are moving more titles to print-on-demand or digital.”