From Investor Call script:
The reorganization to our five global business divisions will incur costs, predominantly severance related.
8 replies (most recent on top)
@5nnk+19MZi4sZ. The only way this business has grown in the last 25 years is through price increases and acquisitions. Small publishers will continue to eat away at large players. The internet has leveled the playing field and COVID, is the knock out punch where you cant visit face to face, so you cant build those relationships that used to win the difference-making adoptions.
We all have friends who still work here so wish them success but the digital transformation is k–ling the profit margins at Pearson. As someone else pointed out, it's digital pennies for analog $'s. Norton and Macmillan are taking market share by lowering prices even further. The pie is shrinking and CEO fairy dust can change the appearance (frosting) but not the filling (results). This isn't the growth industry it once was. If you want or need a career, transition out of higher education publishing.
Who knows. Sure it will be shared. But don't think all of the new regime's people are in place.
Interesting. I can't determine where/why the layoffs will be. Maybe some roles will become redundant? I have the feeling Virtual Learning will be fine, but who knows.
https://www.fool.com/earnings/call-transcripts/2021/03/08/pearson-plc-pso-q4-2020-earnings-call-transcript/
NA HigherEd Courseware down 18% in 2020, working remotely, and the annual report shows 3.7million eBooks sold which matches physical books. Those digital pennies for analog dollars continue to flow.
search for something such as Pearson announces results and today or yesterday's date.
Where can I find this?