Today’s Shelf Awareness newsletter points to a New York Times piece on the new austerity in book publishing.

“Venerable houses including HarperCollins, Houghton Mifflin Harcourt, Penguin Group, Random House and Simon & Schuster have all announced salary freezes or layoffs, or both. Simon & Schuster canceled its annual holiday party, held for the last few years at Tavern on the Green and scheduled in 2008 for Guastavino’s, a splashy banquet hall in Manhattan. One division of Random House had pizza, beer and wine in a room off the cafeteria for its holiday lunch instead of going out for pricey cocktails. Across the city, editors with Four Seasons taste are being asked to scale back on their lunch tabs.”

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