From the Wall Street Journal:
Dark days are upon the book industry. Last month alone, Random House announced a massive restructuring; Simon & Schuster laid off 35 staffers; the adult division of Houghton Mifflin Harcourt stopped acquiring manuscripts for the rest of the year; and HarperCollins sent comedian Sarah Silverman a contract worth $2.5 million to write her first book.
(Thanks to Bill Crider for the link)