Thomas Nelson Publishing Announces Job Cuts

Posted on August 3, 2001

Thomas Nelson, Inc. announced it has adjusted the business strategy of its Thomas Nelson Publishing division and cut staff. Sam Moore, Chairman and Chief Executive Officer of Thomas Nelson, Inc., said the adjustment is in response to a shift in market demand for Christian books. The adjustment has resulted in the elimination of approximately 20 positions, including a few senior executives, at Thomas Nelson Publishing.

``This adjustment in the business strategy of Thomas Nelson Publishing is necessary as we continue to focus on strengthening our core publishing business,'' Moore said. ``The decision to reduce the size of our work force was difficult, but essential as we align the skill sets of our staff with our business.''

Lee Gessner, Executive Vice President of the Thomas Nelson Publishing Group, said the adjustment in business strategy reflects the current demand of the Company's customers.

``Christian books and Bibles are sold largely through independently owned retail bookstores, bookstore chains and mass merchandisers,'' Gessner explained. ``These outlets have shifted priorities in their shelf space allocation and are now selling only the best titles on the market. They are telling publishers that we need to reduce the number of new product releases. Consequently, the focus of our marketing and publicity activities must be on a select group of titles."

Thomas Nelson, Inc. is a leading publisher, producer and distributor of Christian and inspirational books and believes it is the largest publisher of Bibles and inspirational books in the English language. The company also designs and markets a line of gift and stationery products.