Fu-k Chip
9 replies (most recent on top)
“ As we consolidate individual businesses under the edX umbrella, significant headcount reductions, representing 20% of total budgeted personnel spend will take place in Q3 with a focus on creating greater alignment and efficiency across the organization as well as removing silos and redundancies that have developed over the years.”
https://www.marketscreener.com/quote/stock/2U-INC-16118009/news/Transcript-2U-Inc-Q2-2022-Earnings-Call-Jul-28-2022-41124618/
Below re the “20% of personnel will be laid off comment”
Not personnel - spend on personnel (that was the language used in the call). Meaning some or a lot could be coming from those with high salaries
Anyone notice a correlation between 2u and the Biden administration?
Record the next company meeting using an external device and not your work computer. Then use an anonymous cloud hosting account to store it. Then post a link on popular business related media sites. Wednesday next week. See you there.
Which department are you in?
"The colleagues who will be leaving us have done great work and helped us build this company over the last 15 years. I'm very grateful for that. We'll do everything, we can to treat them well and assist them in their transitions."
https://seekingalpha.com/article/4527221-2u-inc-twou-ceo-chip-paucek-on-q2-2022-results-earnings-call-transcript
Egregious communication decisions by Chip lately. An embarrassment. 17.5 million dollars to him last year!
20% of personnel will be laid off, but not for a week so sit tight. have a nice weekend. wtf.