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John Wiley to close Edinburgh facility
20.06.12 | Benedicte Page
John Wiley is proposing to close its Edinburgh facility in June 2013, expanding its outsourcing to Asia. Fifty staff handling content management for journals are entering collective consultation over their jobs.
Wiley's content management operations already have a substantial presence in Singapore.
Steve Miron, senior vice-president at Wiley-Blackwell, said: "This proposal would deliver substantial financial benefits enabling Wiley to invest further in serving the evolving needs of our customers . . . In the coming weeks we will be consulting with colleagues who may be affected and to ensure that they are supported and treated fairly and with great care, in a manner that is consistent with our values in these difficult circumstances."
Meanwhile John Wiley has announced revenue of $1,783m for its fiscal year 2012, a growth of 2% including foreign exchange and 1% with foreign exchange excluded. The publisher said revenue from its digital products and services stood at just over 40% of total revenue. Free cash flow was "better than expected" at $260m.
The publisher predicted "mid-single-digit" revenue growth excluding foreign exchange for fiscal year 2013.