Thread regarding Pearson PLC layoffs

Pearson warns it is near ‘bottom of valley’ as US downturn takes toll

https://www.ft.com/content/b77d985e-54a2-11ea-8841-482eed0038b1

"Revenue from its US textbook business fell 12 per cent last year, while print revenue was down 30 per cent and sales from bundles to university students plunged 45 per cent."

Ok, who didn't realize this? Wasn't this leaderships plan with Revel, Digital First, Inclusive Access, GLP, and all the rest of our initiatives? Leadership gives reps the plan, we execute the plan and now everyone is surprised to see a drop in revenue. JF says "It will provide a headwind as it did in 2019, there will be a smaller financial hit the year after." Translation: we're still bleeding money, as we did for the past 3 years, we will again this coming year.

Now read between these lines.
“One of the reasons Pearson as a share is in the doghouse is because of courseware . . . The impression is that this area of the business is poisoning the well, or in danger of poisoning the well.”

Congratulations, we've all now been given the scarlet letter of poisoning the overall Pearson well.

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| 2709 views | | 8 replies (last )
Post ID: @OP+13Ct0Pbi

8 replies (most recent on top)

Layoffs and Offshoring - that's what has been shoring this company up for the past few years. The next logical step would be to sell itself off to one off these offshore vendors.
So, in a year or two I expect this company to be renamed "Pearson - a Global Logic company" or "Pearson - a Cognizant company".
Those engineers who are hanging in there hoping for the best - get ready to be re-badged soon.

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Post ID: @Csfn+13Ct0Pbi

any time the e-word (efficiencies) comes up is bad news. no ones addressing it though so its just frantic and chaotic every day. i hate it.

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Post ID: @gfwe+13Ct0Pbi

Credit Suisse also sees light at the end of the tunnel. But as Satchel Paige said...

https://seekingalpha.com/news/3544923-pearson-rebounds-credit-suisse-sees-damage-done

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Post ID: @3mcu+13Ct0Pbi

Ha ha ha ha! ... That's what you think, executives. You haven't gotten it right in almost a decade. The bottom of the valley you are in is the Valley of the Shadow of Death.

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Post ID: @3ouu+13Ct0Pbi

I assure everyone another lay-off is just around the corner. No doubt.
Leadership here is comical. It’s almost like a Monte Python skit.
Challenge: name 1 component leader in the company. Go ahead and try.

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Post ID: @2baq+13Ct0Pbi

With declining sales layoffs and outsourcing only way they can make a profit

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Post ID: @2amq+13Ct0Pbi

"we are expecting this to inflict further pain this year”
"now that we have streamlined our back-office systems and processes, we expect to realize further efficiency savings, and this is something we are actively working on"
I smell more layoffs coming.

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Post ID: @1mxg+13Ct0Pbi

https://finance.yahoo.com/news/pearson-forecasts-difficult-2020-u-080558692.html

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Post ID: @1xnx+13Ct0Pbi

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