2U cannot have a stock price under $1 for 30 continuous days w/out the Nasdaq delisting the company. It's started to slide to under a $1 in December, pops up for a bit, but then slides back to under a $1 again. Execs fear a continuous slide to sub-$1. To get the price back up, serious layoffs are coming... soon. Check my track record on here. My position very well could be on the chopping block too.
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@xcm+1qA28rKF looks like the one who is wrong. SVP is MVP.
@3lea+1qA28rKF The South African team is a joke
Just found out today I was one of the ones to go. I went above and beyond for the company despite all the shady stuff going on. The crew they decided to keep on (US excluded) can barely do the job, and some of them do nothing all shift. I can’t wait to hear how this pans out for them.
Thank you SVP!
SVP is right again.
lol ended the day at 88 cents. These kool aid drinkers trying to blame UPTO on here. Blame it on a scammy business model and pray you even get severance tomorrow.
@1gyg+1qA28rKF You are indeed correct, its primarily a boot camp role where we claim student's work and provide grades and detailed feedback. I come to this page every now and then and I don't find it a coincidence that layoffs are being announced for tomorrow while our access to work is being restricted temporarily.
RE @1eil+1qA28rKF forgive me, but what is a central grader? I work within student engagement and I have never heard of this role....is that primarily a bootcamp role? If so, I think that could be a glimpse into the possible affected population
I work in central grading, they announced downtime due to "facilitate important administrative process updates".
I wont be surprised if most of the central grading team is laid off. They have made a push to having learning assistants do most of the work since they're in South Africa and can work more for the same pay.
Can someone tell me more about the project snowglobe? I saw there was another thread but I think it was deleted. Does this "project" include anything additional; aside from layoffs?
No real surprise layoffs have been coming for a while. Paul has been very clear that his goal is to make the company profitable and that entails reducing overhead and expenses.
Hate to see this. I have a lot of friends in SE who survived the last round of layoffs (sadly, I did not). Thinking about them all - hoping it either skips them, or they land on their feet.
Layoffs have been brewing with HR since early December. Ask someone in HR what "Project Snowglobe" is.
Layoffs are coming tomorrow. Keep an eye out for meetings. Seems like it will be across much of the company. The favoritism and lack of accountability from leadership is disgusting.
Thank you SVP for all of your posts. Do you think SS will be cut more??
SVP - curious to hear what you are hearing on the refinancing and whether Paul will BK the company to start fresh or try and work through the existing debt...
SVP is always right!
What is news here? And you were wrong in December. Something tells me you aren’t on the “inside” any longer. WTH does “soon” even mean when before Chip was out you could predict within 48 hours?
75% of U.S. workforce - deleted
I’m guessing bootcamps is on the chopping block
Can you give an hint at what departments, and which line(s) of business?