The Bookseller.com

20th November 2008

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Scholastic Corp outlines workforce cuts

24.09.08

Scholastic Corporaton c.e.o. Dick Robinson has written to US employees to explain a four-part workforce reduction, which includes a voluntary redundancy plan for employees over 50, as well as a freeze on recruitment, reports Publishers Lunch.

The final two points of the plan, aimed at saving up to $30m a year, include the elimination of merit raises for employees above a certain wage level; and a broader "reduction of headcount and reduction of other costs" as the company finds "new and fresh ways of operating".

Robinson says their goal is have the plan "accomplished by the end of 2008".

International US children's Scholastic