Saturday, 18 July 2009
ARCHIVE BOOK BIZ NEWS - job cuts at Penguin
The digital revolution is making itself felt in the book world as Penguin UK announces a 10% cut in its staff in response to what chief executive, John Makinson described as "tremendous opportunities arising out of digital publishing." This equates as the loss of 100 jobs as the long established company reshapes to go digital.
The job cuts at Penguin are the largest witnessed at a major UK publisher since the recession began but Makinson, said that the job cuts were influenced by the changing book market. He claimed that this was not about Penguin 2009 but Penguin 2015 when it is expected that over 50% of books published will be digital. The news comes as parent company Pearson were named as the world's most successful book publisher.
Supermarket giant, Tesco are aiming to hit £2 million a week in book sales. This follows a loss for Tescos in the book market after the collapse of Entertainment UK last year which supplied most of their titles. The supermarket released figures that showed its books sales were down 13.23% on the same period last year.
Another independent bookseller goes to the wall - Glasgow based bookseller, Lost in Fiction has ceased trading, blaming an hostile trading environment.
Radom House have lost their finance director to HarperCollins. John Fussel is to join HarperCollins in a newly created role of group commercial director.
Sky television are to make a two part drama based on Terry Practchett's Going Postal for broadcast in 2010 and the channel's commissioning editor Elaine Pyke said that the channel will continue to adapt bestselling books for television following the success of Pratchett's Hogfather and the recent adaption of Martina Cole's The Take.