Chip's team has instructed us to identify 30% of people on my teams for layoffs with a minimum of 20% to be laid off in the first round. More rounds are expected.
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According to the Federal Warn Act 2u is supposed to give a 60-day notice that mass layoffs are coming. I'm sure they'll claim unforeseeable business circumstances and the company couldn't have predicted the layoffs. Anyone know this is not true due to most of the layoffs in some departments were to avoid promotions, title changes and them actually paying people accordingly. Instead of being honest they decided to lay people off before they had to uphold their end as a company.
Vp- any word on expected severance and benefit extension details?
Word is getting out because it was made public on Thursday. This isn’t news.
If I were a university I’d love to pay less of the tuition share.
The word is getting out...
https://www.insidehighered.com/news/2022/08/01/online-program-enabler-2u-resets-its-pricing-model
"Middle management and student-facing folks are weighted highest. This is a tech company and it's about time we trim the non-tech fat."
If we had a real functioning tech product we might consider valuing our tech staff more - get out of here.. our systems (specifically Atrio and enrollments..) are a joke
Interesting thread here. Lots of opinions.
Have y’all seen the stackable bundles yet? That is telling I’m terms of what to look out for.
The core bundle (what all partners get no matter what) includes student success, admissions, ops, and some basic marketing.
We gotta focus on the folks in the 15% add on and the last two 5% add on bundles. This is faculty success, curriculum development, enhanced marketing, placement l, and more. Google “2U edx stackable bundles”.
In 2019 2U had a round of layoffs that affected student engagement and since then that department has been tightening up so it seems they are going to be ok.
Regardless, as an investor, as long as this drives additional partners to join up…I’m in!
I hear academic success folks are on the chopping block.
Lol “this is a tech company”
That’s funny. You mean the only tech we provide (the learning platform) that is transitioning to canvas?
There a teams of partner facing managers and student facing support that keep the programs basically functioning every day (fires to put out left and right) that are already running very lean. Meanwhile way too many VPs in other departments doing nothing but saying what their teams won’t do. Hoping that 20% of personnel spend cuts closest at the VP level, honestly.
@admin
A refocus on the eDX side sounds great, but what about all the contracts that 2U currently has with degree partners?
Are they going to stop assisting them or just focus more on edX partners?
I don't work for 2u, but I am a shareholder looking to make $ off the arbitrage surrounding the Byju buyout. Your company's labor costs have always worried me and it's about time they lob off some of this fat.
I'm an assistant to someone in senior management. The U.S. House Committee on Appropriations is coming down hard on 2u's revenue sharing w/ accredited universities. Going forward, there is going to be a shift to technical skills with a refocus on edX or so I hear in various meetings.
My email job is definitely replaceable which is why I said my team is on the chopping block.
Yesssssss. Middle mgmt 💯
Why do mgrs have two directors and multiple VPs? They get paid $$$$$
Trim that up.
lol at marketing VP trying to justify her e-mail job. You are replaceable.
Lol non tech fat.
2U has a platform that has already been built. Keep a few folks who can troubleshoot.
The partner contracts include student facing at the lowest level (admissions/student support) and gotta keep those around.
Imagine pulling all student facing support? Partners would lose it.
Marketing, faculty support/recruitment, career services persons are gonna be on the block.
Middle management and student-facing folks are weighted highest. This is a tech company and it's about time we trim the non-tech fat.
There’s no stringent guidelines in determining who is selected. If you’re in the club and we like you, the odds are in your favor!
VP in which department? What are you going off of in terms of who to lay off?