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McGraw-Hill May Cut More Jobs Beyond 611 AnnouncedReuters
January 8, 2008
SAN FRANCISCO - McGraw-Hill Cos Inc. may cut more jobs beyond the 611 reductions it earlier announced, Chief Executive Harold McGraw said on Tuesday.
"We think it is a measured and prudent thing to go to a second tier of cuts, which we announced this morning," McGraw told investors at a Citigroup conference in Phoenix. "Hopefully this does it, but we're prepared to do a third tier if necessary."
The company earlier on Tuesday said it was eliminating 611 jobs, or 3 percent of the workforce, to reduce costs. (Reporting by Amanda Beck and Philipp Gollner; editing by Carol Bishopric)
http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSN0853735620080109
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