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August 4, 2017By Michael Cader

Pearson Will Cut Another 3,000 Jobs; PRH Sales Down “Slightly”

August 4, 2017By Michael Cader

Pearson announced results for the first half of the year and expanded on the details of their latest in a cycle of continuous restructuring, first announced in May. Another 3,000 employees will be eliminated over the next three years, “with a particular focus on managerial positions.” The company confirmed that it will spend £300 million of the proceeds from the sale of a portion of their stake in the Penguin Random House joint venture on a share buyback, and they set a new interim dividend of 5 pence per share (compared to 18 pence per share in 2016). Sales for the […]

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Filed Under: Earnings Reports, Publishers

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