“Amid a relentless string of layoffs and pay-freeze announcements, book publishers are clamping down on some of the business’s most glittery and cozy traditions. Austerity measures are rippling throughout the industry as it confronts the worst retailing landscape in memory.”
Read the New York Times story here:
http://www.nytimes.com/2009/01/05/books/05publ.html?_r=1&partner=permalink&exprod=permalink