2U is shutting down HQ on or before April 15th, 2024 and moving to a tiny office in Virginia. No one will be allowed back into the building. Most things are being moved into storage or liquidated.
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Lmao market cap at 29 million. Just liquidate the company and move on! 2U is done for. Imagine thinking this place is going to recover!! A hopeless scam! A degree that is worthless!
OP isnt a troll, info was accurate at the time but things are constantly changing.
Who ever posted that HQ will close on April 15 is a troll!
I’m not sure I’d categorize the meeting as “all positive” given in my 11 years here this will be the first year without merit compensation. I’m not saying it’s unexpected or unnecessary, but all positive is a reach.
20% layoff and stock reverse split incoming. If the reverse split doesn't work, delisting is imminent.
35 cents a share
Ya’ll be posting all kinds of rumors! The meeting today was all positive around compensation. Truly seems like things MAY be turning around. Slow process, but liking what is happening.
Office shutting down, more layoffs
Update?
Something is going down. CEO meeting invite for today just went out………..
I have no idea why any of you still work at 2U. It’s wild to me. There’s so much opportunity at other companies that are not cratering day by day. They owe you nothing!
Give it another day or so...
Annnnndddd look what didn't happen today lol
@1ikr+1rL9JSSu Does Trilogy offer an Economics Bootcamp? If so you should prioritize it for yourself.
Remember how awesome Trilogy was?
So many great people. Smart. Cared. Made a difference.
But the fed kept rates at zero and printed money like drunken sailors. This led to malinvestment which always happens when money is cheap. Everyone loved the short term gains. Higher stock prices. Higher paychecks. But students had to pay higher tuition. But government made them able to take loans out with low interest rates.
Now the party is over. The punch bowl removed and the hangover begins.
This is an election year so they are trying everything to keep the stock market rising and companies from mass layoffs but economics will be taught in mass as 1 in 3 will soon be jobless. Banks will crash. The Fed will come in and print. This will further destroy purchasing power and march us towards hyperinflation.
It is unavoidable given the current political environment.
My only advice is buy gold silver and speculate not with Bitcoin but with metal miners.
The rest of this decade will be horrible but gold can take the sting out of it.
Its another example of Paul cleaning up the financial mess made by Chip's fiscal irresponsibility and doing whats in the best interest of the company finances.
Let’s face it HQ is and has been a ghost town. It’s over. So no surprise here. Company needs to save money and this is actually a good idea.
Post ID: @1jml+1rL9JSSu, smh...so what ideas are you going to mark as "done" on the list ( seemingly drawn up on the inside of a matchbook cover) of cost savings options?
Layoffs - Check* (at least for the moment -- forget about the fact that in the areas that mean the most to students, you are now at 1 person tasked with 5 people's worth of work)
Shutting down the main artery office and replacing it with a teeny, tiny one - Check
Stripping down and liquidating objects and fixtures - Check
What's next, requiring folks to turn in (or retroactively pay for) all swag that had been handed out over the course of time to add to the estate sale? Actually, I'd agree the return of that stuff!
Hopefully, SVP is on to much greener pastures! Whomever it was, the service to the actual people who count the most in this org was invaluable!
Not much left of the place to give heads up on, anyway!!
On top of that, SVP is gone. Rumor is HR found them.
Shutting down HQ doesn’t mean that the company shuts down. It’s a cost saving measure that allows more people to keep their jobs (for now, at least).
Can’t tell if this is real, or a troll. Not funny if made up. We’re all on the edge. Daily.
Maybe they'll do tours of it one day... "And if you look to your left, you'll see a replica of the toilet bowl Chip did bumps off in the company's heyday...no back row, indeed."
photo op.
Millions spent every year on the HQ office for maybe 50 people to come in Tuesday - Thursday. Shut it down
I would expect this email to be sent out Monday because of Easter.
2u has devolved into a true mom and pop shop.
How likely is it that the "new H.Q. - located in Virginia" is actually just a rarely used formal dining room space in the home of one of the members of the C suite.
Loving the statement saying "most things will be liquidated, or 'moved to storage' ..."
Moving to storage so that the staging can be set for the next fake company that the 2u leadership pact herds its way towards?
The final scene: Everything fades to black in 3................2..............1
But where will they all play virtual golf?!
I’ve heard this too. Company wide email will be sent out tomorrow or Monday.
If only. The upswing would be that no one will have to sit through those terrible training sessions about using a badge and working with the "CREW."
This cra place!!!
Text book definition of "corporate implosion."
Source: Trust me bro