No Raises Next Year at Macmillan... and Merry Christmas!

Macmillan, the publishing giant that's been around since 1843 and includes imprints like Farrar, Strauss & Giroux (home to Thomas Friedman), Picador (Naomi Klein) and St. Martin's (South Beach Diet), gave its employees what passes as a Christmas bonus this year: he didn't lay off anyone but did announce a pay freeze for 2009 "for everyone making over $50,000."

That's not as bad as getting laid off, however, which is what happened at Simon & Schuster, Doubleday, and maybe Random House. Lovely! Full memo after the jump.

Full story including the Macmillan memo to staff at Gawker.