Seems to be no rhyme or reason for who was placed where and the decisions that were made. What the Fu*k?
30 replies (most recent on top)
@ej MH hits all-time low - $11.16 - Layouts are coming... With a stock that is plummeting at record pace, enjoy your short time that at that sinking ship.
I think all of YOU should just QUIT... MH said it on the Town Hall a few years ago, if you don't like it here LEAVE.
@jg no they hired a consulting firm who ran a bunch of analytics on performance, geography, pay, etc. SW made it clear last fall what they deem as “low performers” would be gone.
Pretty sure last year’s layoffs were decided upon by AI when we went vertical. This year’s probably the same. Why were some people offered new roles (more responsibilities no extra pay), some were made to compete for their current role, and others who keep the wheels turning laid off completely
@eb (Internal employees only) TownHall recording: https://cengageo365.sharepoint.com/sites/connect/_layouts/15/stream.aspx?id=%2Fsites%2Fconnect%2FCorporate%20Videos%2FBusiness%20Segments%2FHigher%20Education%2FHED%2Fhed%2Dna%2Dsales%2Dtown%2Dhall%2D2026%2Emp4&nav=eyJyZWZlcnJhbEluZm8iOnsicmVmZXJyYWxBcHAiOiJTdHJlYW1XZWJBcHAiLCJyZWZlcnJhbFZpZXciOiJTaGFyZURpYWxvZy1MaW5rIiwicmVmZXJyYWxBcHBQbGF0Zm9ybSI6IldlYiIsInJlZmVycmFsTW9kZSI6InZpZXcifX0%3D&referrer=StreamWebApp%2EWeb&referrerScenario=AddressBarCopied%2Eview%2Ef8a5bf0c%2De9ad%2D4101%2Dae11%2D869178aa5153
@eb um....a lot of "We are working on thr specifics?"
@az things look a he-l of a lot less bleak now that I'm at McGraw.
@c6 Could someone share the highlights (or lowlights??) of the town hall for those of us who weren't invited?
It’s going to work THIS time guys! This is the right sales model! L O L
"Didn’t they used to have a model like this? Where reps weren’t generalists?"
Oh lord, yes. We used to have micro territories and several reps were assigned to each key account. Hardside, Softside, Business & IT, and then another inside rep or two to cover everything else. And several useless management layers overseeing all of that, lol. This was more than a decade ago now. Times were even better before that. The core companies that were eventually combined to form Thompson/Cengage were tops in their fields, and the Titanic rode those waves for a good couple of decades, now.
Today? Well, we all know the Titanic story ended. Grab a life vest and carry on!
This place makes me want to kms
@c6 many of us in higher Ed weren’t even included in that town hall so we have to get intel from coworkers who were. We are trying to piece it altogether since there is so much obfuscation. Really ridiculous. I’m sure it was a colossal s-show!
After that 💩 show of a town hall I wish I was offered a severance package.
@bd literally everywhere.
@ba Yes- they have done this over and over and over again.
@az where?
Didn’t they used to have a model like this? Where reps weren’t generalists?
@ay this is how inside reps have always functioned. You’ll be ok
@av life goes on, they deal with the mess, clean up what they can. That said, higher ed publishing is dying, and the overall future is bleak no matter where you're at.
Folks have to make the decision that makes the most sense for them, but leaving Cengage opens you up to much higher pay and much more meaningful work elsewhere.
Sales reps with massive territories now. But, let’s take away the fleet vehicles so our books look more profitable.
OMG. Current employee here. Myself and another coworker got on the phone this morning to read the announcement sent yesterday and had to laugh (even though it's not funny). Just a ridiculous communique-word salad-blather-nonsense bunch of words. No rhyme or reason. Hanging on as I make other plans. Under no illusions. Not taking it personally. Will read that book about PE that was recommended on this site in one of the posts. Feeling bad for the excellent colleagues getting the axe but knowing it has no reflection on them. Will get out in time. Not at all the company it was. Lousy, really lousy Sr. Management. They should be embarrassed. I know there is life after this place and I can't wait to embrace it.
@aq "After July, leadership will exit with huge pay outs and move on to the next thing."
What will happen to the people that are still employed at Cengage at that time?
Nothing matters from now until the IPO coming end of June/beginning of July. This “layoff” (I.e. eliminating positions without explicitly laying some people off, forcing them to apply to jobs that don’t really exist) pads the company from making a layoff announcement pre IPO and makes the balance sheet look better before going public - less overhead, more profits.
After July, leadership will exit with huge pay outs and move on to the next thing.
Remember, cengage isn’t in the business of selling learning materials, they’re just a finalization tool for PE and other firms.
In 5-7 yrs they will bankrupt (again) and begin the process all over (again).
Until the next reorg so 12 months?
Let me tell you about my extensive travels where I purchased outrageously expensive belts, it’s true.
@ag yes. They had so many focus groups with the Gale group to try to learn how they could integrate Gale and Cengage- they didn't listen to one thing that Gale said and did exactly what they were told wouldn't work and not to do- they do not listen.
It's complete chaos. They are using the CenForce to determine everything. Perhaps flipping coins and dart board shooting. Unlike this prestigious group of ex-employees, they are all lost whereas this group has it together.
5 months!! Don’t forget the semi annual reorg after back to school in the Fall!
Remember last year when NK said he wasn’t going to do more reorgs and MH said he was eliminating his Sr. EA position for cost savings? Maybe they should stop making org claims and telling personal stories. We are over hearing about their kids’ lives while living in fear of our livelihoods. Just please stop talking and move on to your next companies.
Just as long as the million others they have done. 12 months. Definition of insanity.
Classic Cengage.