Pearson CEO Is Said to Tell FT Staff to Brace for Fewer Jobs
Posted: 3/5/2013 | By: Kristen Schweizer | Bloomberg
Pearson Plc (PSON) Chief Executive Officer John Fallon, who has announced a plan to generate 100 million pounds ($151 million) in cost savings in 2014, told staff at the Financial Times unit yesterday that there will be fewer jobs in the U.S. and U.K. as the publisher focuses on emerging markets, according to a person who attended the meeting.
Fallon told FT employees at the gathering in London that as the company tries to do in one year a restructuring that would normally be spread over six, the changes will include fewer roles to do with Pearson’s print-led publishing businesses, said the person, asking not to be identified because the meeting was private. No potential job-cut numbers were given, said the person.