UK publisher Pearson axes 3,000 more jobs

Peace and Freedom


© AFP/File | Pearson is attempting to reposition itself towards the education and digital markets
LONDON (AFP) – British publisher Pearson on Friday axed an extra 3,000 jobs in an ongoing cost-cutting drive aimed at combatting weak demand after a series of gloomy profit warnings.

The job cuts, which comprise roughly ten percent of the group’s global workforce, were announced in a first-half results statement.

Pearson also lowered its interim shareholder dividend by 72 percent to five pence a share.

The latest cutbacks, which will run from 2017-2019 as part of efficiency plans launched in May, will generate annual cost savings of £300 million ($395 million, 333 million euros).

“We will reduce Pearson’s employee headcount by approximately 3,000 full time equivalent employees,” it said in the statement on Friday.

“Savings will come from the simplification of our technology, increased use of shared service centres, standardisation and automation of processes, reduction…

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