Wiley Looks To Cut $80 Million In Costs

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Tuesday 21st May

Wiley Looks To Cut $80 Million In Costs

Posted at 7:44AM Friday 08 Mar 2013

In reporting third quarter results for the period ended January 31, John Wiley & Sons announced further plans to change its operations and cut costs to accommodate the transition from print to digital. "As discussed last quarter," said president and CEO Steve Smith in a statement, "due to the market transition away from print to digital and the economic realities facing some of our markets, we have initiated a company-wide restructuring effort that will result in approximately $80 million of run-rate savings going into fiscal year 2015."

marketwatch.com

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