British publisher Pearson Plc (PSON.L) said it intends to exit its UK adult training business, Pearson in Practice, and is therefore entering into a consultation period with Pearson in Practice staff. In October 2012, Pearson had initiated a comprehensive review of Pearson in Practice in response to a radically changing trading environment.
Pearson in Practice, which was built around Pearson's 2010 acquisition of Melorio plc, provides high-quality, industry-specific training and qualifications through apprenticeships, work-based, technical and specialised training programmes.
Therefore, Pearson is working with the Skills Funding Agency to ensure that learners continue to be supported through other skills and workplace training providers, and Pearson's other work based learning programmes. Also, Pearson would have talks with Further Education colleges and other providers on the transfer of learners and apprentices, to ensure that they can complete their programmes with a minimum of disruption.
The company said it would continue providing training and support for young adults who intend to develop skills and enter the UK workforce via its qualifications and curriculum businesses, particularly Pearson Work Based Learning. The cost of closure and impairment is likely to be nearly 120 million pounds and would get reflected as a loss on sale in Pearson's 2012 statutory accounts.
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