If you’re looking to traditionally publish your novel, keeping the word count down to about 80 – 85K is important. It’s mostly a matter of publishing costs – bigger books cost more to produce.
I have a large book: A Burnished Rose – Book I and book II (don’t remember the total work count but it’s over 400 pages) that I split online because it was too costly to print as one book.
that I split up for selling online because of the printing cost. When I sell it in person, I have a brick and mortar printer print Book I and II together because it is cost-effective for me, but not for online print sales.
Leslie Vedder gives us three helpful tips to cutting down your manuscript without losing the good bits. (Thanks to Jane Friedmann and Valarie Biel)
CKBooks Publishing 
Why do I get ht feeling you directed this piece at me?
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Funny, sir Bill, but not true. Given that someone has created this post and a famous book person like Jane Friedmann has put this on her site attests to the fact that you’re not the only one who has to deal with this issue. But as hard as it may be to cut, it’s even harder to add (good content).