I'm so disappointed to see that 2U is willing to pay 2 executives damn near 1 million a year. Maybe if Andrew and Aaron cut their salaries in half (which would still put them at 225k/year, more than livable) the company could manage their debt a little better. I was in the last round of layoffs and wasn't even making 70k. It makes me wonder just what the salaries of other execs are... 450k each, seriously? It's insulting and now that the stock is under $1, I hope those men enjoy sinking with their ship.
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2U needs to get above $1 to avoid delisting. The only way to do that is to make some bold moves.
@1luh+1qwPuISZ you're right my bad. I missed the "aggregate" and read as "$204k paid in equal monthly installments". It was not my intent to spread anything misleading, we have enough of that here. I sincerely apologize.
Harsha is getting 17k a month for 12 months, not 2.4m
Harsha is getting $2.4 million just to leave according the last 8k filing. That's 24 additional people they need to lay off at a $100k average salary just to capture that back...
https://investor.2u.com/reports-and-filings/sec-filings/sec-filings-details/default.aspx?FilingId=17159529
This will be an unpopular opinion but I feel like this should be put into perspective:
How many individuals did 2U lay off last round? Assume 100 (understated) at 70k annually, that equates to $7m.
If they can get us out of this cycle of lay offs and insecurity to contribute $7m back in salary, that seems worth it. Not for them, but for us. And nothing about it is easy for them.
94 cents