• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
Successbooks

Some of the greatest editors in publishing are taking buyouts and leaving Penguin Random House

By
Hillel Italie
Hillel Italie
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Hillel Italie
Hillel Italie
and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 18, 2023, 9:12 AM ET
Penguin Random House
The Penguin Random House stand during the first day of the London Book Fair at Hammersmith's Olympia Exhibition Hall, on 18th April 2023, in London, England. Richard Baker—In Pictures/Getty Images
Add Fortune on Google for similar content.

Some of publishing’s most celebrated and enduring editors are leaving Penguin Random House after accepting buyout packages. Meanwhile, an undetermined number of company-wide layoffs has begun, according to publishing officials.

Recommended Video

Longtime editors of such prominent writers as Anne Rice, Lorrie Moore and Nobel laureates Alice Munro and Elie Wiesel are among those stepping down by the end of the year. Penguin Random House declined Monday to comment on any individual staff members, but multiple publishing officials with knowledge of the buyouts confirmed that departing editors include Vicky Wilson, Jonathan Segal and Ann Close. The officials were not authorized to discuss the decisions and asked to not be identified.

“All of us at Penguin Random House greatly respect the life-changing decisions of those U.S. colleagues who have chosen to take the recent company-wide Voluntary Separation Offer,” reads a Penguin Random House statement provided Monday to The Associated Press.

“Their contributions to our publishing, our booksellers, and to our readers have made a meaningful difference in who we are as a company and community, and their dedication to mentoring and to sharing their expertise and experience with our next generation of talent will be one of their major legacies,” the statement said. “We thank them and wish them a joyful and fulfilling next chapter.”

Multiple publishing sources told the AP that layoffs began Monday, with those let go including editor Daniel Halperin, who joined Knopf in 2021 after heading the HarperCollins imprint Ecco since the early 1970s. His authors at Knopf included Joyce Carol Oates, with whom he also worked at Ecco.

Penguin Random House declined comment on the layoffs.

The buyouts and layoffs come amid a broader reorganization at Penguin Random House, which earlier this year overhauled its Random House and Crown divisions. The departures at the country’s largest publishing house also follow numerous other high-profile changes. Global company CEO Markus Dohle and U.S. CEO Madeline McIntosh both left within months of PRH’s failed attempt to purchase rival publisher Simon & Schuster, a deal struck down last fall by a federal judge. In June, Robert Gottlieb, a former Knopf editor-in-chief who worked on all of Robert Caro’s Lyndon Johnson books, died at age 92. Knopf has not yet announced a new editor for the fifth volume.

HarperCollins and Hachette Book Group are among other publishers who have offered buyouts in recent months. Compared to the previous two years, the overall sales in 2023 have been down across the industry, though the numbers are still higher than the last pre-pandemic year, 2019.

Wilson, Segal and Close have all worked for decades at the Penguin Random House imprint Alfred A. Knopf, one of the industry’s premier publishers. Others leaving include Knopf Managing Editor Kathy Hourigan, who joined the company in 1963; and Andy Hughes, the imprint’s senior vice president of production and design. Joan Didion’s editor at Knopf, Shelley Wanger, also took the buyout.

Hourigan and Hughes have been closely involved in the publication of Caro’s series on Johnson, a project dating back to the 1970s. A spokesperson for Caro said no plan was yet in place for Hourigan and/or Hughes to continue on a freelance basis with Caro, who is currently writing the long-awaited fifth and likely final volume on Johnson.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By Hillel Italie
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Success

Cleveland’s WNBA team doesn’t play until 2028 but Progressive just scored jersey sponsorship
SuccessSports
Cleveland’s WNBA team doesn’t play until 2028 but Progressive just scored jersey sponsorship
By Joe Reedy and The Associated PressJuly 21, 2026
4 hours ago
Lauren Sánchez Bezos put $34 million behind reinventing what clothes are made of—and stirred a debate about Amazon
Environmentphilanthropy
Lauren Sánchez Bezos put $34 million behind reinventing what clothes are made of—and stirred a debate about Amazon
By Sydney LakeJuly 21, 2026
6 hours ago
Jamie Dimon says insecurity, not ego, is what destroys the careers of top CEOs
C-SuiteJamie Dimon
Jamie Dimon says insecurity, not ego, is what destroys the careers of top CEOs
By Marco Quiroz-GutierrezJuly 21, 2026
7 hours ago
Two students stand next to each other and look at the papers they are holding.
AIEducation
Study finds AI boosted homework scores 18%—then tanked exam results 20%
By Sasha RogelbergJuly 21, 2026
9 hours ago
math
AIScience
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
9 hours ago
Welder on a navy boat
SuccessCareers
Jamie Dimon says six-figure shipyard jobs are the new ‘American Dream’—but candidates will need to endure hours of extreme heat, cold, and rain
By Preston ForeJuly 21, 2026
10 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
1 day ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
6 hours ago
Jamie Dimon won't put more of his own money into the long end of the bond market right now—thanks to the $39 trillion national debt
Economy
Jamie Dimon won't put more of his own money into the long end of the bond market right now—thanks to the $39 trillion national debt
By Eleanor PringleJuly 21, 2026
15 hours ago
Current price of oil as of July 21, 2026
Personal Finance
Current price of oil as of July 21, 2026
By Joseph HostetlerJuly 21, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.