Wiley released its earnings report for the second quarter ended October 31, with sales of $515 million, down 3 percent from last year. Operating income was down 22 percent to $57.4 million, and adjusted EBITDA fell 3 percent to $123.8 million. Net income was $38.2 million, compared to $55.9 million in the prior year. Earnings declined in part due to $14 million in restructuring charges “related to workforce actions and real estate optimization.” In a presentation to investors on Wednesday, the company said it is “accelerating [a] cost reduction program, including targeted workforce actions, general hiring freeze, real estate optimization, […]
