The chief executive officer of Pearson PLC told staff at the Financial Times Monday that there will be fewer jobs in the U.S. and U.K. as the publisher focuses on emerging markets, according to a person who attended the meeting.
Kristen Schweizer of Bloomberg News writes, “FT Group CEO John Ridding, who joined Fallon at the meeting, said that while losing some positions will be the most difficult part of the restructuring, maintaining the current situation isn’t possible, the person said. Neither executive specified which departments would be affected, according to the person.
“The structural change under way in the newspaper industry makes it necessary to act more hastily, Ridding said, according to the person. Changes include adding more jobs in Brazil, India and China, and embedding FT videos in educational materials at Pearson-owned schools.
“Fallon, who took over from Marjorie Scardino in January, also told staff that the Financial Times isn’t for sale and that every Pearson unit has to be sustainable, according to the person.”
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