Comments on: McGraw-Hill Layoffs

By: Lil

Lil — Tue, 04 Aug 2009 13:34:06 +0000

Know several people that work at BW – big layoff coming in Sept. Individuals have been told to justify their existence, prove why they should stay. But so far no word of buyer – probably better to get laid off now and get the package from MH rather than take chances with new owner.

By: Bob

Bob — Wed, 29 Jul 2009 21:28:35 +0000

The magazine has no debt. It is an operating division. Any acquirer would be taking on the liabilities of the losses and MH would avoid the severence liability from firing all that staff and perhaps costs with breaking certain contracts. That’s why no one will pay more than $1 for it.

By: Jacob

Jacob — Fri, 17 Jul 2009 22:31:26 +0000

Thank you for the tip Karema!

By: Karema

Karema — Fri, 17 Jul 2009 22:20:30 +0000

If I were you, I wouldn’t worry about BusinessWeek. The vast majority of the layoffs are coming from the educational textbook divisions like SRA/Wright Group (MHLG) and Glencoe/MacMillan (SSG). I used to work for SRA/Wright Group, and ALL of my friends there have been let go.

By: laidoffguy

laidoffguy — Fri, 17 Jul 2009 05:08:25 +0000

Unfortunately the poor economy coupled with the lack of desire to read printed material, seems to be the demise if not the slow decline of book, magazine, and newspaper publishers. We are becoming a “I want it now” world, and the Internet provides that.