LONDON May 5 Pearson, the global
education company battling a downturn in its biggest markets,
said it would launch another cost cutting drive and consider
selling its U.S. school publishing business in the latest
attempt to restructure.
Pearson, which has issued five profit warnings in four years
after students in the United States started renting rather than
buying text books, said it would cut its cost base by the end of
2019 by 300 million pounds ($388 million) a year.
It said first quarter trading had been in line with its
guidance and it reiterated its full-year target.
($1 = 0.7737 pounds)
(Reporting by Kate Holton, Editing by Paul Sandle)