Friday, 4 August 2017

Pearson plans to cut 3,000 jobs worldwide

Pearson plans to cut 3,000 jobs following a record loss last year for the seller of academic books and online teaching services.

The cuts, which represent 9% of the firm's global workforce, will affect back office operations including human resources, technology and finance.

The job losses are part of £300m cost cutting plan announced in May.

In January, Pearson reported a slump in sales at its main business - selling books to US college students.

That contributed to a loss of £2.5bn in 2016, the biggest loss in the company's history.
Pearson has been hit as students have been switching from text books, which have high profit margins, to cheaper online alternatives.

Adding to that problem, the number of students enrolling at US colleges has been slowing.

Pearson has been trying to build a business in online educational products, but has been struggling to generate profits.

BBC     News.