McGraw-Hill issued a statement updating investors on their “growth and value plan” after the close of the market on Wednesday. As announced in September, the company is preparing to separate McGraw-Hill Education and McGraw-Hill Financial into two separate companies by the end of the 2012. At MH Education, they expect to eliminate approximately 10 percent of their workforce, or approximately 550 people (while noting that the “executive ranks” will be reduced by 20 percent). Most of the layoffs will occur this month, coming “by the end of the fourth quarter”–which is aligned with calendar year–though “some actions [are] expected to […]
