Several top editors at Penguin Random House are leaving the company as part of a series of buyouts and layoffs at the largest book publisher in the U.S. The New York Times reported that the shift "marks a changing of the guard, especially at the storied imprint Knopf, as editors and other staff members with many decades of experience departed."
At Knopf, those taking buyouts include Kathy Hourigan, who started at the publisher in 1963 and worked with Robert A. Caro for decades; Vicky Wilson, who edited Anne Rice and celebrated 50 years with the company last year; and Jonathan Segal, who edited seven books that went on to win the Pulitzer Prize. At Viking, the editors Wendy Wolf, Paul Slovak, and Rick Kot also took buyouts.
Those laid off included staff members in a variety of areas, including publicity, editorial, and sales. Daniel Halpern, the founder of Ecco Press, who moved to Knopf two years ago, was let go. The Times noted that "about 60 people were affected by the layoffs, according to employees with knowledge of the situation who were not authorized to speak publicly."
In an e-mail to staff members on Tuesday morning, PRH CEO Nihar Malaviya wrote that the book market had faced significant cost increases "across the board," a trend that was expected to continue, along with inflation. "I'm sad to share the news that yesterday some of our colleagues across the company were informed that their roles will be eliminated," Malaviya added. "We long sought to avoid these actions, but unfortunately could not do so."
Buyouts at Penguin Random House were offered to employees aged 60 and older who had been with the company for at least 15 years.