Houghton Mifflin Harcourt Publishing is restructuring its K-12 textbook division, after suspending the purchase of manuscripts by its consumer book-publishing division. Several hundred of the firm's 5,300 full-time employees are expected to lose their jobs.<br /><br />CEO Tony Lucki says the publishing firm is not seeking a buyer, but industry watchers believe the consumer group, which has shed several executives, may be for sale.<br /><br />Albert Greco of the Fordham Graduate School of Business forecasts that the Houghton Mifflin Harcourt textbook business will generate about $2.31 billion in revenue this year, up 2.8% from last year. <br /><br />Boston-based Houghton Mifflin is a leading educational publisher in the United States. It publishes textbooks, instructional technology materials, assessments, reference works, and fiction and non-fiction for both young readers and adults.
