Paul's email to the company strongly hints at layoffs. As a numbers guy, he will look at employees as expenses that need to be cut. Whether you liked Chip or not he tried to take care of the people and layoffs were hard for him. It won't be with Paul. I have intimate knowledge from his past endeavors.
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Corporate America is, and has always been, built on {White} collar business men spinning big talk. Successful companies, however, are talking big talk but also pushing their new invention or unique tech - something that is relevant and in demand.
2u talks and talks, but there's no demand for this non product!
Paul/the Board is just buying time before the implosion.
Strong market demand remains for OPM's. Despite recent turmoil, desire for online education will continue to significantly grow along w/ demand for OPM services.
To the person talking about the stock not magically rebounding: the market has been open just over an hour; it takes more time for any large movement to occur this early in the day.
This company won't thrive under Paul LMAO. This company is a sinking ship, it's gone. No turning it around. If you believe that then you're delusional and still drinking the Kool-Aid. If Chip was the only problem, the stock would have responded well today to his ousting. You can be a Paul fan but like he said "Embrace reality as it is, not as we wish it to be."
If Paul is worth the powder to blow him to hades, he will start at the top and then have managers pull reports to show who’s been committed. After all, numbers don’t lie. Chip is a friends with benefits person. As you see, that’s not worked out so well. You have people in high positions who couldn’t get a fast food order right at a drive thru.
Things are about to change 180 degrees. Chip wanted to be nice to everyone and in a lot of ways that was taken advantage of. Paul is a numbers and results oriented businessman who will fire you in a heartbeat and do whatever it takes to turn the company around and be profitable. A lot of employees who have coasted are going to be gone, and a lot who stay are going to hate him, but he's what the company needs to survive.
I'm hearing a 10% reduction by end of the year. Student Engagement, Boot camp products, and mid-level management will be hit the hardest.
At the end of the day, whatever resolutions are implemented, it's all a result of chip's incompetence and party all the time mentality.
So who cares if he cried his crocodile tears every time a new round of layoffs came through vs Paul doing it without even a sigh.
It wouldn't likely be a thing if Chip had only led, or stepped aside a very long time ago to allow someone else to do the work!
What was Paul’s email?