‘For Dummies’ Publisher to Cut Staff, Costs

Hungry Minds Inc., publisher of “For Dummies” instructional books, Frommer’s travel books and CliffsNotes, said it will fire about 130 workers, or 19% of its employees, and slashed its profit outlook for the year. The New York-based company said it will close offices in San Francisco; Foster City, Calif.; and Chicago. Hungry Minds lowered its earnings estimates for fiscal 2001 earnings to 10 cents a share from 50 cents. It expects the cuts to save $10 million in 2001 and $16 million annually after that. Shares of Hungry Minds fell 38 cents to close at $7.50 on Nasdaq.