NEW YORK — The wave of book publishing cuts has now reached HarperCollins.
The publisher of such authors as Nobel laureate Doris Lessing, Oprah Winfrey favorite David Wroblewski and Newbery prize winner Neil Gaiman has closed and dispersed a nonfiction division and a children's imprint and laid off what a spokeswoman described as a "small percentage" of employees.
"Over the last several months, the unstable economy has had a significant impact on businesses and consumer spending," HarperCollins Chief Executive Brian Murray wrote in a company memo sent Tuesday. "Our industry is not immune to these market forces, and there is increasing pressure on us, along with our retail and wholesale partners, to adjust."
The cuts were widely expected after HarperCollins, owned by Rupert Murdoch's News Corp., reported last week that its operating profit fell 66% to $23 million in the quarter ended Dec. 31.