Pearson to Cut Jobs After Predicting Stagnant 2013 Earnings
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Pearson Plc, the publisher of the Financial Times newspaper, predicted operating profit will be stagnant in 2013 as it cuts jobs and spends more quickly to shift its education business to online from print.
Pearson will have about 150 million pounds ($227 million) of restructuring costs in 2013 as it accelerates the move of its education business to fast-growing economies and digital service and separates its Penguin book business in preparation to merge it with Bertelsmann AG’s Random House, the London-based company said in an earnings statement today. The stock fell as much as