The acquisition of Grolier by Scholastic for US$400 million, took place in 2000. The new owners projected a 30% increase in operating income, although historically Grolier had experienced earnings of 7% to 8% on income. Staff reductions as a means of controlling costs followed soon thereafter, even while an effort was made to augment the sales force. Cuts occurred every year between 2000 and 2007, leaving a much-depleted work force to carry out the duties of maintaining a large encyclopedia database. Today, "Encyclopedia Americana" lives on as an integral database within the Grolier Online product.