McGraw-Hill may cut more jobs beyond 611 announced
SAN FRANCISCO Jan 8 (Reuters) - McGraw-Hill Cos Inc MHP.N 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)