Interesting to contrast news from PRH UK and its “role” eliminations, with news from Faber, as reported by Melina Spanoudi in The Bookseller.
Faber CEO Mary Cannam said 2022-23 was “an excellent year. Every area of the business performed well.”
Per The Bookseller, “Faber gave an inflation-related pay award to all staff in April and a one-off lump sum paid to those earning under £55,000 to help with the cost of living in October. The company also increased its starting salary to £27,700 in April 2023.”
A reminder that on the very same day, The Bookseller reported PRH UK CEO Tom Weldon as saying PRH faced “longer-term challenges” growing profits “in the face of increasing cost pressures,” as 38 PRH employees got redundancy notices for Christmas.
