Houghton cutting jobs

December 4, 2008 9:58:12 AM PST
More bad news from the book industry: Houghton Mifflin Harcourt is "streamlining" its educational business, and eliminating jobs in both its education and general divisions.

The company did not immediately say how many jobs would be cut or who had been fired.

Caught in a credit squeeze related to the 2007 merger of Houghton Mifflin and Harcourt - publisher of Philip Roth, Guenter Grass and many others - is already in an apparent hold-down on acquiring new books, a policy that apparently led to the resignation earlier this week of a top executive, Becky Saletan.