Oxford University Press is laying off 60 people in an effort to cut costs. The cuts came from its New York and Cary, North Carolina offices.
OUP president Tim Barton said the cuts were "a result of the difficult economic environment impacting the publishing industry." OUP employs roughly 700 people in the U.S., and publishes approximately 500 new titles a year, approximately half of which are monographs. OUP spokesperson Christian Purdy said besides shedding jobs, the press was not planning any dramatic cuts to its publishing program or to any other strategic initiatives. Purdy said the cut was made in anticipation of a reduction in state and library budgets for next year.
Library budgets have been slashed across the nation as states and cites face declining property tax revenues from the housing crash. It's a tough time for libraries and for publishers.
