Impact of restructuring
3Q restructuring charge of $15.4 million, or $0.03 per share, for employee severance
- 600 positions eliminated
- McGraw-Hill Education: 400
- Information & Media: 100
- Corporate: 100
Restructuring will be completed in 4Q
- Anticipate additional $0.03 restructuring charge
- $16.0 million pre-tax charge in 4Q relates to vacating facilities and eliminating 100 positions
Total charge for 2006 will be $31.4 million, or $0.06 per share, primarily for elimination of approximately 700 positions