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Pearson sees cost cuts bearing fruit as digital push advances

Reuters with CNBC.com

Pearson, which cut thousands of jobs and sold assets including the Financial Times, has been driving an expansion into digital education. The British education publisher said it expects annual cost savings to be higher than 330 million pounds ($424.31 million) by the end of 2019. Pearson PSON-GB said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content.