After first surprising markets by reducing their sales and profit expectations last October, on Thursday morning Pearson ceo John Fallon admitted “that the cyclical and policy related challenges in our biggest markets have been more pronounced and persisted for longer than anticipated.” Another round of restructuring and reorganization is expected to eliminate 4,000 jobs — or 10 percent of the company’s workforce — and cost “approximately £320 million” in one-time charges this year. While you might expect that such dramatic moves would further sink the stock — which as we noted before fell 42 percent in 2015 and dropped again in early January […]
