Pearson and COVID-19: At Least We Have Connections Academy
The widespread cancellation of standardized testing across America during this COVID-19 pandemic had me wondering about Pearson Learning (PSO as it is known in the stock market), a mammoth education corporation located in the United Kingdom and with offices in the United States.
I have written about Pearson a number of times over the years (see here and here, also). Pearson planned to profit handsomely from the Common Core State Standards (CCSS). That didn’t go as planned. In January 2016, Pearson cut 4,000 jobs.
Pearson’s “restructuring” has continued over the years, and, as one might expect during the coronavirus crisis, appears slated to continue. From TheLayoff.com/pearson-plc:
Sigh…..
“We are, however, announcing today that over the next few months, we will start to move ahead with further plans to simplify the company and make it more efficient.”
- CEO 4/24/20
(TheLayoff.com advertises itself as “a simple discussion board for all of us who would like to learn more about the rumors or possibility of job cuts in our company.”)
On January 17, 2017, it had its worst loss in a single day since 1986, closing at $7.23 per share.
On April 27, 2020, Pearson ended the day at $5.69 a share, making January 17, 2017 look like, “I wish.”
Time to once again “simplify the company.” However, according to Pearson’s 2020 CONTINUE READING: Pearson and COVID-19: At Least We Have Connections Academy | deutsch29