Unions concerned with Pearson investments.
The British publication Professional Pensions reports that Pearson, a UK-based company that controls much of the U.S. school testing business, has lost 42% of is share value in the last year.
Chicago Teachers Pension Fund, Trade Union Fund Managers and 130 individual shareholders joined Unison in the resolution that will be heard at Pearson’s annual general meeting this April.The resolution said the company was over-reliant on the education testing programme in the US, which had been affected by a recent change in the law and was also becoming increasingly unpopular. It comes as the company revealed last month it was axing 4,000 jobs – 10% of the company’s workforce.
The resolution is being issued jointly by Unison and the coalition of unions. It says that Pearson is over-reliant on the education testing in the US. It comes as the company revealed last month it was axing 4,000 jobs – 10% of the company’s workforce.
Unison Capital is a major investment firm, which owns 33,000 shares of Pearson.
The coalition of unions and public employee pension funds, including the Unions concerned with Pearson investments. | Fred Klonsky:
