Friday, August 12, 2016

Penguin Random House to Combine Offices in NYC, Saving $20M Annually - Book Business

Yesterday, Panzer told you about the latest sales and revenue figures reported by the the Big 5 in the traditional book publishing market. Today, in a post at the Book Business site our inquisitive kitty reporter found some interesting information about the cost saving measures that traditional publisher Penguin Random House is making.

He would share with me. Right?
In a post at the site by Ellen Harvey Panzer learned that after approval by the Board of Directors and shareholders Penguin Random House (PRH) CEO Marcus Dohle notified employees by memo of the consolidation of the company's two offices into one building. According to his memo the consolidation will save the company $20M. The post includes CEO Dohle's entire memo to employees.

Panzer says, "Hmmm ... Mom ... Let's share space to save money. And while we're on this closer together thing ... How about What's His Name shares his food dish with me too?"

Note: This is a long-medium post. Bring two cups of tea and two muffins for today's reading selection.

To read the post about PRH's consolidation, tootle over to Penguin Random House

To read yesterday's post, tootle over to financial reports

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