Whose got a meeting on their calendar from their HRBP? Let's hear about your layoff story b/c misery loves company!
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There is never a pattern or thought process behind who. There is a formula and we are all simply a line on a spreadsheet. From my perspective, a lot of tenured, middle-leveled ICs were cut, which leads me to believe the goal is motivated by $$$
Please someone ask next week why our CEO, who has been at the helm through a 97% stock decline, three rounds of layoffs in two years, and started ANOTHER COMPANY is still the head of 2U. Chip should have resigned years ago.
Safe to say, all the sources are coming from people directly impacted
We were either the oldest or the newest. We were too performers. This doesn’t reflect on our worth and we were underpaid anyway
How can Chip possibly still have a job? He has destroyed the company he built and should be held accountable.
@fkw+1oPBigwI USC as a whole, or just a certain program(s)? What's your source on that?
Any source / more details re: USC's partnership dissolution?
I asked why me when I'm a top performer on my team as a senior IC and they had no answer outside of business needs.
Stock would go up if it's being fed artificially- somebodies who purchased a whole bunch of stock set aside, for desperate times like these. It's away if floating on a piece of wood out in the deep ocean for a tiny bit longer.
But is it legal? Insider?!
USCs partnership was also dissolved. Any other partnerships dissolved or cancelled?
Why is the stock going up?
This is the email that went out
2U Team -
I am writing to share some significant changes we are making to our organization today to ensure the long-term success of 2U. While the news may be challenging, these changes will make us a stronger company and propel us into 2024 and 2025.
Today we’re telling team members throughout the company that their roles have been affected by the ongoing realignment of the business and reprioritization of our work. Employees who will be leaving or may have a significant change to their role have already received an invitation from 2U HR to have a conversation today. In addition, some of you will have a new role or a new manager as part of these changes. If that applies to you, we will send you a meeting invite later today. If you do not receive a calendar invite, your role is not affected by today’s decisions.
A year ago, we accelerated our path to become a platform company, an important strategic move for 2U and a huge shift in mindset. A year into this journey, we are more confident than ever that this strategy is the right course of action for the company – we see evidence of this every day. However, as we’ve settled into our new model, it’s demanded new capabilities, new ways of working together, and a relentless focus on the areas that provide the largest impact for learners and partners. To best sustain and support the business, we need to continue to evolve our org structure to create more agility and alignment. Collectively investing our time and resources in the areas of greatest potential or need will improve our ability to deliver greater outcomes for more learners.
For those who will leave 2U, I want to express my sincerest gratitude to you for everything you’ve done to get 2U where it is today. You have helped us innovate, grow, and deliver incredible outcomes for learners around the world. Thank you. We will support you in this difficult transition period by offering a comprehensive set of benefits including competitive severance pay (which varies based on tenure and level), COBRA health coverage in the U.S. for medical, dental, vision, and mental health, and tuition forgiveness (if applicable). We will also provide job transition support including professional outplacement services and a private job board for future opportunities at 2U.
I’ll share more details on our path forward during an all-company call next Thursday, October 5. Over the next week, your department leadership will hold office hours and meetings to answer questions and provide updates on how your work is affected.
Until then, please take good care of yourselves and join me in supporting all our colleagues who are leaving 2U and thanking them for the important contributions they’ve made to our mission.
Chip
Any thoughts on the severance package? 2 weeks per year at the company. Is that decent or not? Still in shock.
"2U is the only org out there trying to provide high quality online organization"
bro doesn't have access to google :(
Im not in leadership. I was one of the lucky ones today. And, yeah good luck with that.
And that's right, 2U is the only org out there trying to provide high quality online organization.
How is Chip still running companies considering his reputation at this point?
No, person in "leadership" who suggested "why not leave?"
Better plan, why not Strike!!
Shut the joint down until they, at least, come clean- so that all have the opportunity to decide what's best, not just "what's best for 2u." And by 2u, that would be the $elect few.
"Instead of unioninzing or making a stand, why not leave?"
In addition to not being able to grow another job on a tree, some workers actually believe in the mission of delivering high quality online education and don't want the company to die at the hands of a clown CEO
Instead of unioninzing or making a stand, why not leave?
Time to make a stand at these meetings next week
We need to unionize or something. These erratic and irresponsible decisions made by the same people over and over and over need to be checked by a group.
How many people were laid off?
The whole notion of "sustainability thru '24/25" is laughable- borderline delusional. Stock is nosediving!
Their "plans" are strictly self serving for a select few, to the very last (swiftly approaching) day.
First round of HR meetings should be done now. Anyone have any updates on how many were let go, what reasoning they might have given, etc?
So what was Gab hired back for two weeks ago then?
It seems like the Learning Department was completely disbanded. Lots of layoffs. Cape Town and select few US employees are now employees of Learning Mate.
Just saw the stock is down to $2.13. Thinking back to the days where my RSU grants were at $90. 😱😱😱😱😱
When is leadership going to realize the problem is at the top of the chain, not the bottom.
IC stands for Individual Contributor. So either an Admissions Counselor or Student Success Advisor
IC = AC. I was a senior AC
IC = individual contributor
re: details & source -- Baylor dissolution came from a manager who was let go and the partnership dissolution is effective immediately.
What does IC stand for?
@jop+1oPBigwI
What is an "IC"?
Any source / more details re: Baylor partnership dissolution?
I got laid off! I was a senior IC.
Honestly best thing that could have happened to me. I hate this company lmao.
Peace out.
Nothing surprises me anymore.
Baylor partnership has been dissolved.
The fat needs to be trimmed at the manager and director level, not ICs.As an IC, I have no idea what my director does. We don't hear from him and he has zero impact on ICs day to day. Very unfortunate
So far I only know of one person who's gotten the HR email, they are a Sr SSA. Guess we'll find out more around 11am once the HR meetings take place.