Supply chain and inflationary pressures 'coupled with declining sales over the last few quarters,' forced the book publisher to 'make difficult decisions to realign the needs and resources of the business.'
book unit said it is planning to cut 5 percent of its workforce in North America this fiscal year, which ends on June 30.
The first of those job reductions took place on Monday. HarperCollins has approximately 4,000 employees worldwide, with its largest operation being in North America. “As noted last October, HarperCollins continues to experience unprecedented supply chain and inflationary pressures resulting from the pandemic, including increased paper, manufacturing, labor and distribution costs,” a representative of the publisher said. “Coupled with declining sales over the last few quarters, these issues have resulted in us having to make difficult decisions to realign the needs and resources of the business.
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