The minnow that was Riverdeep swallowed up one educational publisher after another, feeding an insatiable hunger.
Sooner or later, all that feasting would result in a most undesired weight gain. The HMRiverdeep-Harcourt-Greenwood-etc. buffet left the minnow all bloated and too heavy to move.
Employees of the newly merged firm have been getting the sack, bit by bit, department after department. All that the minnow swallowed cannot be fully digested and therefore has to go.
It hasn't been all back office staff, the extraneous bean counters and clerks and administrative assistants. Now the editorial staff is shedding a few. Three editors from Houghton Mifflin and one from Harcourt are leaving, as if they know that they're in line to be disgorged from the overstuffed HMS Minnow. Or is that supposed to be HMH....or HHM?
4 comments:
The three trade editors reported in the news are just the tip o' the old iceberg at HMH. I don't think we'll see the end of it until late 2008. With 7 billion in debt and disruption during the prime sales season, I'd expect more layoffs or perhaps some divestitures before it's done.
Layoffs? No, you mean synergies. Many more synergies to be realized before a profit can turn.
Indeed, this is just the beginning.
More synergies realized today, 3/19/08.
My heart and my prayers go out to all those who have just lost their jobs. Please God, let there be something new around the corner.
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