McGraw-Hill Co. to cut 611 jobs

Upheaval in the subprime mortgage market is one of the key factors behind the loss of 3 percent of McGraw-Hill Co.'s staff, according to The New York Times.
The company said its cutting the more than 600 jobs, most of which are in the education division.
McGraw-Hill owns the ratings agency Standard & Poor’s, as well as BusinessWeek magazine, an educational publishing business and other assets.
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