RM Education in Oxfordshire announces job losses
A leading Oxfordshire company is planning to shed up to 300 of its 2,500-strong global workforce.
RM Education, which is based near Abingdon, supplies technology and resources to schools.
Group marketing director Alison Sutton-Davezac blamed the job losses on reductions in money the government gives to schools.
As part of the restructuring, RM will also be selling a number of companies in Australia, the US and UK.
The news sent the company's shares down 32%.
Ms Sutton-Davezac said it was too early to say where the job losses would be made or when they would take place.
She added: "The process is driven by our employees so it wouldn't be right to put a date on when the process will be completed."
RM was founded in Oxfordshire 38 years ago and currently employs about 1,000 people at its headquarters in Abingdon.
The company lost contracts worth £200m last year when the government scrapped England's national school redevelopment scheme - Schools for the Future.
But a spokesman said the business was still "fundamentally robust".
He added: "RM Education has very modest debt levels and continues to generate cash."