New York — Several highly regarded editors in the publishing industry are bidding farewell to Penguin Random House as they accept buyout packages. At the same time, an undisclosed number of company-wide layoffs have commenced, according to insiders.
In a statement provided to The Associated Press on Monday, Penguin Random House expressed deep appreciation towards their colleagues who decided to take the voluntary separation offer, acknowledging their profound impact on the company, the bookselling industry, and readers alike. The statement also noted their dedication to mentoring and sharing their expertise with future talent.
“We thank them for their invaluable contributions and wish them all the best as they embark on new and fulfilling journeys,” the statement concluded.
Insiders further revealed that the downsizing process began on Monday, with editor Daniel Halperin among those affected. Halperin had joined Knopf in 2021 after an illustrious stint leading the HarperCollins imprint Ecco since the early 1970s. His established repertoire included working alongside Joyce Carol Oates, both at Ecco and Knopf.
Penguin Random House, owned by German media company Bertelsmann SE BTG4, +0.20%, declined to comment on the layoffs.
Changes at Penguin Random House
Penguin Random House, the country’s largest publishing house, is undergoing a significant reorganization. This comes after the recent shake-up of its Random House and Crown divisions earlier this year. The company’s CEO, Markus Dohle, and the US CEO, Madeline McIntosh, both left after the failed attempt to acquire rival publisher Simon & Schuster, which was blocked by a federal judge last fall. Furthermore, the passing of Robert Gottlieb, a former Knopf editor-in-chief known for his work on Robert Caro’s Lyndon Johnson books, added to the changes at the company.
The publishing industry as a whole has experienced a decrease in sales in 2023 compared to the previous two years. However, these figures are still higher than those of the pre-pandemic year, 2019. In light of these developments, other publishers such as HarperCollins and Hachette Book Group have also offered buyouts to their employees.
Several long-time employees at Penguin Random House imprint Alfred A. Knopf, one of the industry’s leading publishers, are among those leaving. Wilson, Segal, and Close, who have worked for decades at Knopf, are part of the departures. Additionally, Knopf Managing Editor Kathy Hourigan and Andy Hughes, the imprint’s senior vice president of production and design, are also leaving. Shelley Wanger, Knopf editor for Joan Didion, has taken the buyout as well.
Hourigan and Hughes have played crucial roles in the publication of Robert Caro’s series on Johnson, a project that began in the 1970s. While there are no confirmed plans for Hourigan and/or Hughes to continue working with Caro on a freelance basis, Caro is currently working on the highly anticipated fifth and likely final volume on Johnson.