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McGraw-Hill cuts 'small' number of jobs in Dubuque

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Posted: Thursday, December 6, 2012 9:35 pm

A McGraw-Hill Education official confirmed that a small number of jobs were eliminated at the company’s Dubuque office Thursday.

“McGraw-Hill Higher Education today made a few staff reductions at its Dubuque offices. We will also be adding positions to that office as we continue our efforts to reshape the company into the leader in digital learning,” said Brian Belardi, spokesman for McGraw-Hill Education in an email to the TH.

McGraw-Hill operates McGraw-Hill Higher Education in the Port of Dubuque.

Belardi said he could not confirm the number of positions cut Thursday, but only would say the number is small.

The move comes a little over a week after the company announced plans to sell the education business to an asset management firm.

Last Monday, The McGraw-Hill Companies unveiled plans to sell the education company to investment funds affiliated with Apollo Global Management LLC. The $2.5 billion deal is expected to close sometime this month or in early 2013.

Leaders from the two companies released statements marking their enthusiasm following the announcement.

Larry Berg, senior partner of Apollo, said the company was pleased to be “acquiring a marquee business” and said leaders at the two companies shared a “strategic vision” for the business.

In his statement, Lloyd G. “Buzz” Waterhouse, president and CEO of McGraw-Hill Education said the two businesses represent a “powerful combination."

In late 2011, the McGraw-Hill Companies split into two businesses, one focused on education and the other on finance. Around the same time, the company announced plans to reduce the work force of McGraw-Hill Education by 10 percent.

The layoffs included the elimination of some jobs at McGraw-Hill Higher Education in Dubuque - the company did not confirm how many - and more than 50 full-time positions at the local distribution center. The center closed in March of this year.

Whether Thursday’s job cuts are related to the pending sale is unknown.

Belardi also did not say how many new jobs the company plans to add in Dubuque, but said they will likely be focused on digital products and services.

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