Book publisher lays off 10% of workers
Nashville Business Journal
Nashville-based Christian book publisher Thomas Nelson Inc. is laying off 54 employees, about 10 percent of its workforce.
In CEO Michael Hyatt’s blog, he said the cuts will affect nearly every department and are effective this Friday. He says the layoffs were a direct result of slow book sales in September and October.
This was the second round of layoffs at the company. The first was not related to the rocky economy but part of the company’s strategy to publish fewer books. As recently as Sept. 19, Hyatt says he had assured employees that he was not planning another workforce reduction. But the final sales reports changed that, he says.
The company is offering severance packages, including professional outplacement.
“The one thing I do know is that the world needs our message of inspiration now more than ever. As a result, I remain optimistic about our prospects once we get past the current economic crisis,” Hyatt wrote.
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