Thread regarding Pearson PLC layoffs

@4chm+1lec2zuX

You’re looking at the US listed shares, not the UK ones (the bulk) - pretty important context.

Rest of what you’re saying I agree with (pandemic etc) - but my point is simply the optics when you have an ego - which everyone in this PEM does, it’s a sign they’re doing the right thing.

UK based companies with dollar revenue streams have done well in recent months also because the pound crashed, which further boosts the ‘growth’ on the surface.

@4lmy+1lec2zuX

12 months ago the stock was a shade over $9. Today it's $11. Around a 10% return over the past year, fine. Great return if you got in at that price and/or running a fund with 6+ figures in equity.

AB became CEO in October of 2020 when Pearson's stock price still hadn't recovered from the initial pandemic market shock. It's awful generous to use that as a starting metric.

If you think Pearson is a good store of your wealth right now, best of luck to you. Since JF sold off the most valuable pieces and the market corrected the price of the stock, the only ones benefiting are those that were taken care of with big stock buybacks. I'm sitting on vested shares until the next big sale happens and/or the price is comfortably over $12. (Why "comfortably"? Because I don't trust Equate, who refuse to transfer the stock to my personal account at another bank, to execute the trade at a price beneficial to me.)

@4zlc+1lec2zuX

Erm… It’s up nearly 50% in the last 12 months and closer to 100% since he became CEO.

@4jex+1lec2zuX
"...but the share price is going up..."

No it's not. Add that to the list of ironies: none of these guys have actually improved things for the shareholder, even while they bend over backwards for them at the expense of literally everything else at Pearson. Seriously, what have these guys been good at?

Everything else you say is right, though.

Let’s read between the lines here, it’s not an ageist agenda, it’s a tenure one. He’s speaking to the people that have worked at Pearson a long time. He sees them as the issue.

The first irony being if he listened to those people once in a while we might not be making the same mistakes over and over and those people could tell him his leadership is a joke, but the share price is going up so he’s a success in his own eyes.

The second irony being those are the people that care enough about what they are doing to stay because his leadership is driving out a generation of young junior talent thanks to this comical PEM.

The final nail in the irony casket is that his own D2C strategy is at odds with how the business makes money but, it’s all the pensioners fault.

Time for another old hairless white man to fail at the top. Just make sure he doesn’t have a long tenure here and we’re all set.

AB's comments dont surprise me one bit. He's clueless and has done nothing. All he can do is sell off parts because management is as bad as him. He confirmed his lunacy when he advertised a Spice Girl program,that d-mb idea just faded away. And now Pearson continues to fade away. POLS is burning down, all while clueless management tries to uphold bogus metrics. A sale cant come soon enough, KB should have be canned years ago. Does AB include himself when he says out with the old?

@2uul+1lec2zuX I don't know if you are the same person who posted the age discrimination stuff, but this answer makes sense. Its really simple. The business and the "invisible hands" who run the company are rotten to the core. It is simply out-of-control leftism.

Publishing is a tiny...tiny industry and most companies, companies that actually matter, do not operate like Pearson.

You are right. Unemployment is not 3.4%. It's much lower.

These execs do what they want and could care less about anything other than looting the company for their benefit.

They said we must work from home because of the Plandemic. Then they turn around and say without any evidence that you're a slacker.

They said we must get the jab and upload our card or lose your job because the company has a government contract somewhere. There's never been any evidence that the jab actually worked. Then, poof, all of a sudden we don't need the jab or our card anymore.

They said we must all get DIE training. As if we're running around wearing white robes and carrying ropes all the time.

Unemployment is not 3.4%. Just like inflation is not 7%. Some of you robots will believe anything. 82% do not approve of the CEO despite the fake Glassdoor reviews.

Have you noticed that the new Chief Technology Officer is running around claiming she's a woman of color? She has a Spanish surname. If you want to get technical, it was the Spanish who introduced Smallpox to North America Indians. She has done nothing substantial with her life except hide in academia, marry a woman, and relentlessly claim victim status. I'm sure she has all the answers.

@1yxf+1lec2zuX Please tell me you are kidding? You think the govt is going to be helpful here?

Good luck with that. Do you think they have millions of people to investigate every complaint?

I know someone who was d-mb enough to go this route. Wasted 3-4 years.

I’ve also sued someone. It will cost you at least $10k and that is BEFORE depositions start.

I know multiple people over the age of 50. Some over 60. All terminated. All thought about pursuing the ol age discrimination lawsuit.

All were advised by attorneys that it is a waste of time and they would be better off just moving on with their lives.

It is a 3.4 percent unemployment rate. Companies are dying for anyone with a pulse.

Your problem is that the business of education, especially publishing or OPM sucks. It’s dead.

The sooner you understand this and move on with your life the better. No one is getting a dime from Pearson due to age discrimination.

Andy did say that.

I heard it.

The Age Discrimination in Employment Act of 1967 forbids discrimination against people 40 and older in, among other things, discharge.

The US Department of Labor, Office of the Assistant Secretary for Administration & Management's Civil Rights Center is where complaints can be filed.

I hope we'll see a class action lawsuit against Pearson and Andy for this kind of blatant discrimination.

Just wait till Pearson fully embraces AI and chat GPT. They'll cut staff to the bone, including sales. There was an interesting post on the Cengage page from an insider that nails it.

Open Source plus AI equals the final nail in the coffin.

Somebody needs to find that video of Andy Bird talking like this and send it to Joshua Fluke.

Andy Bird needs to go.

If there’s a loss of productivity it’s because they laid off hundreds of people. Not because of work-from-home. They kept pretending we could do the same amount of work with 5% of the staff. Most of us have never seen AB so by his own logic he must be lazy too. Also, who’s taking advantage of who? Certainly not the guy with an all expenses paid NYC apartment and an absurd salary. Silly bird.

It is evident in POLS with the unreasonable metrics and treatment of employees. We are made to feel like imbeciles. We are working nonstop and treated unfairly. We are told a strategic review was completed and they are considering offers. Not another thing is said but we don't know if our jobs are secure. Besides how many partners are truly stable?