Publisher Pearson to cut 4000 jobs while Barclays says it will cut 1200 jobs in investment banking worldwidePearson,Barclays and Virgin Media occupy added to the list of British employers announcing significant job cuts this week as they announced plans for thousands of redundancies.
Education book publisher Pearson said it would cut 4000 jobs, or 10% of its workforce, and undergo a restructuring to tackle problems with its commerce in the US,Brazil and South Africa. Most job losses will be lost in the US, where revenues occupy fallen most, and but will also see the loss of around 500 jobs in the company’s UK operations. Shares in the former owner of the Financial Times rose 17.4%,however, after it accompanied the cuts announcement with a pledge to preserve its dividend.
Continue reading...
Source: theguardian.com