Word is that more layoffs are afoot thanks to our fearless and wonderful leadership. Sales will be affected again but I haven't heard much other than that. JF doing a great job gutting a once proud industry leader and company known for taking care of its people. Your legacy is one of ruining lives, making families suffer and being the laughingstock of the corporate world. At least your bonus is intact, right? Well done, sir!
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I was laid off last summer and I am now in a far better place. Work on your resume or cv, get counseling if you need it, and move on if you are worried. There are other, better jobs out there.
JF is eating boogers; the man can’t play chess as he’s British. Thanks
It is clear that thus whole campaign of constant Re-orgs has been an driven by an anticipated shift in the Pearson's business model, from a content & learning platform provider, to a social / talent acquisition services company. They are laying off thousands of people across the org in an effort to increase members of the Pearson Alumni Network which will be spun off into the worlds largest employment search /social network.
We're all playing checkers, Fallon is playing chess!
At least our fearless leaders got huge bumps in pay. I was so worried that JF wouldn't be able to afford the new Bentley. Gah, the horror!
Good on the RM for being candid and up front about what is coming. I am sure her/she isn't too comfortable either. Good luck everyone, hope we all land on our feet.
From Publisher's Lunch:
Pearson chief executive John Fallon received £3.1 million in pay last year, up from £1.8 million in 2017, according to the company's 2018 annual report. Meanwhile, sales declined 1 percent, with adjusted operating profit of £546 million, in the upper half of guidance. (The company released full 2018 results back in February.) "Pearson returned to underlying profit growth for the first time since 2014, while maintaining progress against strategic goals. Payouts reflect that improving performance," said the report. Company cfo Coram Williams also received a boost, from £1 million to £1.8 million.
The pay raise contrasts against another year of declining sales - from £4.5 million to £4.1 million - but the board expressed confidence that the company's long-awaited turnaround was nigh. "Pearson made good progress in 2018," said Sidney Taurel, Pearson's chairman, according to the Financial Times. "This continued momentum creates a solid platform for revenue to stabilize in 2019 before returning to growth thereafter."
Our regional manager told us to get our resumes ready. Decisions have already been made. The company just wants you to finish the spring selling season before unloading you.
What is more, Sales are going to work for Services. Now if that ain't a** backwards I don't know what is. Up next, AIP for all.