Pearson to cut 3000 jobs

Pearson will cut 3000 jobs by 2020 in an effort to save £300m (A$493m) a year, reports the Bookseller.

CEO John Fallon announced the job cuts along with the company’s half-year results, which saw revenue up 1% to £2047m (A$3367m) and profits up 310% year-on-year to £107m (A$176m).

The majority of the job losses will be in technology, HR and finance, as well in North America, and will take place in the second half of 2018 and early 2019. The job cuts follow 4000 cuts in 2016, which reduced the company’s global workforce by 10%.

Fallon said the reduced headcount will make the company ‘simpler, more scalable, more agile, able to move faster’.

Category: International news