Just had a flashback of Cengage weirdos joking about Pearson layoffs on their page this past May. They called us “obsolete cutie pies” - I was one of those who was cut (and found something much better quickly). I must say hearing about their layoffs coming in November doesn’t exactly pain me.
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Indeed—we are all on the same boat. And it’s called the Titanic. (And you know how that story ended. And no, not the version with Leonard DiCaprio where it was pseudo happy)
Collectively, we’re led by complete id–ts—no matter the company.
The solution is to get out as fast as possible. Don’t be on the Titanic listening to the violin as the water is covering your feet. GET. OUT.
Every publisher is trying to chase nonexistent growth, which is what has led to all the problems. No investors can stomach a company's leadership saying they need to retrench. But its the reality right now if any of these companies want to survive.
I think the days of sh*tting on the competition are over, we're all in the same boat as the industry evolves or devolves if you prefer. Pearson, Cengage, MHE, McMillian, Wiley, Houghten Mifflen....are all feeling the same pain..... It's just that Pearson had the most to lose, and arguably have continued to chase bad decisions with more bad decisions...
It’s not good when your competitors are also downsizing. It is proof the industry is declining and might not stabilize for awhile. I wouldn’t be surprised if Pearson strategy Is to go back to a more traditional publishing company They sure aren’t hiring tech folks that create and manage products.