Pearson to axe 3,000 jobs after slump at main US business

Cost-cutting move aims to save educational publisher around £300m a year with a 10% cut in global staff after biggest loss in history in 2016Pearson is to cut 3,000 jobs as the embattled company looks to slash costs after a slump at its US higher education business.The world’s largest education company, which has issued five profit warnings in the last four years, intends to cut about 10% of its 32,000 global workforce. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2017-08-04 00:00:00 UTC ]
News tagged with: #profit warnings

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Pearson's puzzle

Philip Jones looks at the "stark" difference between the educational and consumer sectors. Continue reading at The Bookseller

[ The Bookseller | 2017-01-21 00:00:00 UTC ]
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Pearson to slash ebook rental prices by 50% in digital push

Pearson plans to launch its own print rental program for courseware and reduce ebook rental prices by up to 50% as it bids to accelerate its shift to digital. Continue reading at The Bookseller

[ The Bookseller | 2017-01-19 00:00:00 UTC ]
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Fallon admits 'we got it wrong' as Pearson shares plunge

Pearson's c.e.o. John Fallon has been forced to defend his position after admitting the company "got it wrong" last year, resulting in revisions to its 2017 forecast and dividend, and the withdrawal of its ambitious £800m profit target for 2018. Continue reading at The Bookseller

[ The Bookseller | 2017-01-19 00:00:00 UTC ]
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He's had three strikes. Surely Pearson's chief executive is out?

Two mistakes from the US educational publisher would be understandable. Their confidence three months ago? Less soForecasting is difficult, especially about the future, as the old line goes – but is it quite as hard as John Fallon, chief executive of Pearson, makes it seem?Two errors in 2016... Continue reading at The Guardian

[ The Guardian | 2017-01-19 00:00:00 UTC ]
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Pearson profit warnings wipe almost £2bn off its value

Education giant plans sale of stake in Penguin Random House to Bertelsmann as it cuts payout to shareholdersAlmost £2bn was wiped from the stock market value of Pearson after the beleaguered FTSE 100 company issued profit warnings for the next two years and said it would cut its payout to... Continue reading at The Guardian

[ The Guardian | 2017-01-18 00:00:00 UTC ]
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Pearson to Sell Stake in Penguin Random House

Faced with worse-than-expected results in its North American higher education publishing business, Pearson said this morning that it is putting its 47% stake in Penguin Random House up for sale. Continue reading at Publishers Weekly

[ Publishers Weekly | 2017-01-18 00:00:00 UTC ]
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Antonia Byatt departs Cheltenham Festivals during job consultations

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[ The Bookseller | 2017-01-18 00:00:00 UTC ]
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Pearson shares fall 30% on profits and dividend warning

The educational publisher Pearson has warned of an "unprecedented" fall in sales in the US. Continue reading at BBC News

[ BBC News | 2017-01-18 00:00:00 UTC ]
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Pearson to sell its stake in Penguin Random House

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[ The Bookseller | 2017-01-18 00:00:00 UTC ]
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Will the Pearson chief be brought to book over profits warnings? | Nils Pratley

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[ The Guardian | 2017-01-18 00:00:00 UTC ]
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Books world alarmed by Pearson's sale of stake in Penguin Random House

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[ The Guardian | 2017-01-18 00:00:00 UTC ]
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[ The Bookseller | 2017-01-14 00:00:00 UTC ]
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Star Magazine Pulls SlimFast Ads After Better Business Bureau Challenge

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[ Folio Magazine | 2017-01-12 00:00:00 UTC ]
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All cheese, all the time: Business Insider’s ‘slightly niche’ approach to Facebook

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[ Digiday | 2017-01-11 00:00:00 UTC ]
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[ Los Angeles Times | 2017-01-08 00:00:00 UTC ]
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[ The Bookseller | 2017-01-05 00:00:00 UTC ]
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[ Publishers Weekly | 2017-01-03 00:00:00 UTC ]
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[ Los Angeles Times | 2016-12-25 00:00:00 UTC ]
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The 10 Best Business Books Of 2016

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[ Fast Company | 2016-12-23 00:00:00 UTC ]
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