We've heard mostly sad news about publishing recently, from Harcourt temporarily freezing manuscript acquisitions to layoffs at Doubleday to Random House freezing pensions to holiday sales predicted to be awful this year.... but in what the Times calls the industry's "split personality," publisher Hatchette is giving out extra bonuses this year. So Christmas isn't cancelled for everyone!
As first reported by Publishers Lunch, an industry newsletter, Hachette is giving bonuses equal to one week’s salary to every employee in the company, in addition to the regular bonuses for which staff members are eligible.
How can they afford it? Well, they're part of Little, Brown, which has signed some pretty huge deals recently—Tina Fey's $6 million "humorous essay" book-thing, and they also have Stephanie Meyer, of blockbuster Twilight fame. It's kind of the unattainable publishing gold standard that's fast disappearing, though—they might end up regretting that $6 million Fey deal if it doesn't come close to earning out. Publishing Displays Its Split Personality [NYT]