It’s been reported at various locations across Romanceland that both Harpercollins (home of Avon) and Penguin have announced wage freezes. From what I understand, HC originally announced a freeze through January, but it looks like the pay freeze will now extend into July 2009, and HC has not ruled out the possibility of cutting jobs.
Penguin hasn’t ruled out the possibility of cutting jobs either and in a memo circulated today, Chairman John Makinson announced a pay freeze for all employees earning $50,000 or more, describing conditions as “the most challenging economic environment that any of us has ever experienced“.
Still hoping for a silver lining….
– Lynn Spencer