The McGraw-Hill Companies' Higher Education Group centralizes operations following acquisition of Times Mirror Higher Education Group.NEW YORK--(BUSINESS WIRE)--Nov. 14, 1996--As a result of its recent acquisition of the Times Mirror Higher Education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. Group, The McGraw-Hill Companies' Higher Education Group (MHHE MHHE McGraw-Hill Higher Education ) announced today that it will consolidate several of its functional areas to maximize operating efficiencies by taking advantage of The McGraw-Hill Companies' current business support operations. Beginning in January 1997, MHHE will utilize The McGraw-Hill Companies' existing accounting services and applications. As a result, General Accounting, Accounts Payable, Cost Accounting, Royalties, Payroll, and Credit and Collections will be centralized at The McGraw-Hill Companies' shared service center in Hightstown, New Jersey Hightstown is a Borough in Mercer County, New Jersey, United States. As of the United States 2000 Census, the borough population was 5,216. Hightstown was incorporated as a borough by an Act of the New Jersey Legislature on March 5, 1853, within portions of East Windsor . In addition, most of MHHE's human resource functions will be consolidated into The McGraw-Hill Companies' new Human Resources Service Center also located in Hightstown. All of MHHE's customer service and order entry functions will be transferred to the Corporation's shared service center in Gahanna, Ohio, which provides business support for the entire Educational and Professional Publishing business segment. Approximately 80 positions will be eliminated from the MHHE's Dubuque, Iowa facility in the following areas: accounting services, human resources and customer service. In Burr Ridge, Illinois Burr Ridge (formerly Harvester) is an affluent suburb of Chicago, in Cook and DuPage Counties, Illinois. The population was 10,408 at the 2000 census. Geography Burr Ridge is located at (41.753030, -87. , approximately 50 positions will be affected. The MHHE's Irwin Professional Publishing (IPRO IPRO Island Peer Review Organization ) business unit, currently headquartered in Burr Ridge, will be integrated into both The McGraw-Hill Companies' Professional Book Group in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and customer service operations in Gahanna. This will result in the elimination of 38 of 73 positions within IPRO. The other affected positions are in accounting and human resources. According to Robert Evanson, president of The McGraw-Hill Companies' Higher Education and Consumer Group, "These were very difficult decisions to make. Unfortunately, a number of excellent people will be displaced because there simply are not enough positions for everyone as we integrate two major organizations. However, to make the transition as easy as possible, the company is committed to treating affected employees fairly and will provide appropriate support including severance packages, outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. assistance and other services," said Evanson. "While decisions like these are never easy," continued Evanson, "we are confident that the steps we're taking today to consolidate our operations will ensure our long-term goal of becoming the world's preeminent provider of higher education information and materials for the global higher education market." The McGraw-Hill Companies is a leading information services See Information Systems. provider meeting worldwide needs in education, business, finance, the professions and government. Founded in 1888, the Corporation today provides information and analysis in multiple media through its rich portfolio of valuable brands. Sales in 1995 exceeded $2.9 billion. CONTACT: The McGraw-Hill Companies, New York Steven H. Weiss, Senior Director, Corporate Communications 212/512-2247 (office) 212/580-2565 (home) weissh@mcgraw-hill.com (e-mail) or Ketchum Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , Chicago Holly Francis, Vice President 312/228-6871 (office) holly.francis@ketchum.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion