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Current DateTime: 07:06:47 25 Nov 2009
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  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 07:06:47 25 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 07:06:47 25 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

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S&P Parent McGraw Hill Cuts 395 Jobs, Takes Charge
By: Reuters | 20 May 2008 | 12:06 PM ET
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McGraw-Hill, which owns ratings agency Standard & Poor's and news magazine BusinessWeek, said Tuesday it will cut 395 jobs and take a $23.7 million charge to pay for the layoffs.

McGraw-Hill [MHP  Loading...      ()   ] said 246 jobs will be eliminated in its financial services unit and 149 will be cut in the education segment, which will cost the 120-year-old publishing firm $14.8 million, or 5 cents a share, after taxes on its second-quarter earnings.

The news comes as many financial firms suffer in the wake of last summer's credit crisis. It also underscores economists' forecasts that more job losses are likely as the US economy slows.

Despite the charge, McGraw-Hill is sticking by its 2008 earnings guidance of $2.65 to $2.75 per share. The company said its 2008 forecast excludes the restructuring charge and associated benefits.

Copyright 2009 Reuters. Click for restrictions.
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