McGraw-Hill will consolidate its educational publishing businesses into a single group, costong 550 employees their jobs. The firm will also sell BusinessWeek magazine.
The company employs 21,650 workers.
McGraw-Hill cut a total of 1,045 positions last year, or 4.9% of its 21,171 employees as of the end of 2007.
Founded in 1917, McGraw-Hill is headquartered in Rockefeller Center in New York City. Its primary areas of business are education, publishing, broadcasting, and financial & business services. It publishes numerous textbooks and magazines, including BusinessWeek and Aviation Week, and is the parent company of JD Power and Associates.
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