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Education giant Pearson plans to cut 4,000 positions -- 10 percent of its workforce -- as part of a global restructuring process, the company said on Thursday. Declining college enrollment in the U.S., fewer students taking vocational courses in the U.K. and a slump in textbook sales in South Africa are among the reasons that led the company to overestimate its earnings, which have fallen about $325 million from their peak, Pearson said in a news release.
A spokesperson for Pearson said it is not yet clear how many of those job cuts will come from the company's operations in North America. The company said it plans to integrate its assessment operations, reduce costs and "focus more on adaptive, personalized, online assessment in an era of 'fewer, smarter' tests."
