Layoff plan will be addressed on the meeting with Paul on the 15th, if not sooner. They been to show cash flow asap. Easiest way to do that is to layoff people. Boot camp is going to be impacted most. However, other departments are also on the chopping block.:
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Repost. Last time there was a layoff there were a ton of 15 minute meetings scheduled on HR calendars. I’m not seeing that for tomorrow so I’m really curious about this Thursday layoff rumor. Unless it’s happening a different way?
2U will be gone after the layoffs this Thursday. Maybe, you all should have learned to code. Stop blaming Orange Man and look in the mirror.
I'm starting with the (enter neo-pronouns) in the mirror
I'm asking (neo-pronouns) to change his ways
And no message could have been any clearer
If you wanna make the world a better place
Take a look at yourself and then make a change
Na-na-na, na-na-na, na-na, na-na
Nothing is happening
If layoffs or transitions are going to happen. There is nothing venting on a board will change
Back in July 2022, they announced layoffs were coming and had almost the entire company sitting on pins and needles for a week. They announced the layoffs during an earnings call and the staff just had to sit there like id--ts until they found out if they were losing their jobs or not. Really ridiculous way to inform your staff of layoffs.
Anyone can enter any name or letters into a field.
No lay offs coming. Thanks to the noble people trying to scare a company
People need to STOP signing these as other people. I mean Chip is fair game I guess bc obviously he wouldn’t actually sign anything. But this is the second time someone as signed as a current employee and that’s not okay. Not sure how many people are lame enough to believe any current employee would actually list their real name - but it’s still not cool. And it’s clearly targeted at specific people.
Excuse me, @3aft+1pYzkuET Was that the punch line?!
Bye George. There is a full transparency statement. (Me fo do betta werk, no wonder you are less noble)
https://2u.com/approach/transparency/
Didn’t Chip enact a non transparency initiative or statement?
Excuse me @3ufw+1pYzkuET your organization has a statement of full transparency
“Will be quite odd when this is not discussed with your company on that day. It is not right, to scare employees who may see this.”
WELL I SURE HOPE IT IS DISCUSSED! One way or the other it’s going to happen.
And if it not discussed it certainly will not be odd. Just the same old non transparency that is the norm.
Will be quite odd when this is not discussed with your company on that day. It is not right, to scare employees who may see this.
I wish 2u never purchase EdX! Beginning of the end.
I wish 2U never bought Trilogy. I used to really like my job before we were acquired by 2U. Yes, please cut us loose from this dumpster fire.
@eyu+1pYzkuET yeah revenue's definitely a consideration for sure. Revenue would fall and it's above my pay grade to determine that impact, heh. I do see it as a unique opportunity given the rock and a hard place we're in. Cutting bootcamps loose simplifies the business considerably, increases cash and reduces headcount.
Longer term, bootcamps can be developed on the edX platform to recapture much of that lost revenue. Markets care a lot more about profit than revenue these days.
Just need to make to 31/12 to get our bonuses
Time to wiggle the mouse to act like I'm working just in case the walk behind me ....
doesn't matter how many layoffs they do, none of it will ever put a dent into the 800 million in debt they've still got. money is just a plaything for the C-Suite...
@sat+1pYzkuET, that's if you assume that revenues are largely the same? #fallingkn**e
If they lay off another 500 people that would probably free up another $75M or so when you factor in salaries and benefits. Once they prove they can be profitable they can get the debt refinanced in Q2 or so of next year.
Even if they do layoff in Q4, cash flow savings won't appear until 2024. If I were Paul, I'd be seriously considering a sale of trilogy bootcamps and searching for a buyer. That will address headcount and cash on the books simultaneously, despite taking a loss. It may be ideal for the company as a whole given where they are.
wonder if they're going to go through with layoffs before everyone goes on break... why start the new year with layoffs when you can end the year with them instead!
smh i hate being trapped in this place
What meeting with Paul on the 15th? I don’t see one on the calendar.