Melville House Books

Perseus CEO David Steinberger

Perseus Books Groups, the conglomerate of publishers that includes Basic Books, Da Capo, and Public Affairs, and controls some 80 percent of independent book distribution via its ownership of Publishers Group West and Consortium and that is itself owned by the hedge fund Perseus LLC, has announced that it is laying off “approximately 20 people and will reduce its list by about 100 titles in 2010,” according to a Publishers Weekly report by Jim Milliot.

Most of the layoffs will be from the publishing operations, reports Milliot, although there will be some on the distribution side — and indeed, MobyLives has receieved a report of at least one person already let go at Consortium.

But that’s not all: “In addition to the layoffs, Perseus is implementing a furlough program in which employees will be asked to take some additional days off ‘and pay will be temporarily reduced during the summer,’†according to a letter sent by CEO David Steinberger to staffers. “Senior executives have also been asked to take ‘a more significant compensation reduction.’â€

Steinberger had already announced a wage freeze, as well as a hiring freeze and a benefits freeze, last December, as per this MobyLives report.

Despite the firings, Milliot reports that “Steinberger said Perseus remains bullish on the long-term prospect for publishing and the company,” and that the current reductions will conversely allow the company to “pursue opportunities to grow.”

Of course, this is the same David Steinberger who, after buying Consortium in August, 2006, told the New York Times, as well as Consortium publishers, that he had no intention of laying anyone off … shortly after which he fired more than half the company.

Dennis Johnson is the founder of MobyLives, and the co-founder and co-publisher of Melville House.