Book business’ new cutbacks

There was more bad news from the book industry Thursday: Houghton Mifflin Harcourt announced that it is “streamlining” its educational business and eliminating jobs in both its education and general divisions. HarperCollins and Pearson, parent company of Penguin Group (USA), are freezing wages and considering layoffs.

“This is the most challenging economic environment that any of us has ever experienced,” Penguin Group Chairman John Makinson wrote in a company memo.

Houghton did not immediately say how many jobs would be lost in its consolidation efforts.

Earlier this week, Random House Inc. announced a massive consolidation that will likely result in layoffs, Simon & Schuster cut 35 jobs and Thomas Nelson Publishers fired 54 workers.