Pearson Chief Brands Critics 'Naive and Ignorant' as Company Cuts 4,000 Jobs
The chief executive of beleaguered education giant Pearson branded the company’s doubters “ignorant” and “naïve” as he announced 4,000 job cuts in its second major round of restructuring in three years.
Pearson said it would make one in 10 staff redundant in an effort to boost profitability that has been hit by a prolonged downturn in its key US businesses. Pearson employs 4,500 in the UK, suggesting 450 could go from its domestic operations.
It came alongside a trading update that revealed the latest in a string of forecast downgrades.