The American Booksellers Association is simultaneously cutting its own operating costs substantially, halving membership dues and determined to maintain its core services, as outlined in a letter to members by president Gayle Shanks.
According to Shanks's letter, at a meeting in Salt Lake City earlier this month, the board decided to enact a hiring freeze that will reduce staff 12%--or 5.5 full-time equivalent positions--through attrition; a wage freeze; a suspension of contributions to the 401(k) and SEP plans; elimination of "discretionary" travel; elimination of "discretionary" spending; more web-based means for communicating ABA education programs; cancellation of the annual spring forum schedule; and revamping the group medical benefit.
At the same time, dues for 2009 are being reduced 50%, retroactive to January 1. Shanks explained: "The Board of Directors understands the enormity and seriousness of the financial difficulties facing our members. We, too, are booksellers. ABA is fortunate enough to have sufficient resources to be able to make these adjustments at this time. We only hope that this dues reduction helps to relieve some small amount of pressure and makes life a little easier for our fellow booksellers. We are committed to do whatever we can to help ensure that as many bookstores as possible emerge from this crisis stronger than ever."
Besides the sales drop many booksellers have experienced, the association's substantial investments have likely taken a hit during the past six months.