Thread regarding 2U Inc. layoffs

Lol who really thinks a sit out will work?. They will just kiss em peace ! ✌🏻

STAGE A CORPORATE WIDE SIT OUT !

Holy God, anyone who is still defending these leaders needs to take a hard look at themselves and their self-worth. This is one of the most irresponsible decisions from this company that I've ever seen and I can't fathom how anyone approved this amount of money for leaders of a company with this much debt. It's shocking and shameful. It's the sort of thing you would see on American Greed or something. Current employees should get MAD and demand answers for this decision to payout this ungodly amount of money to this select few.

This is to make sure the executives see it through to the end. They have to have people to operate the company but no one here is getting $700K-$2M payouts to do it.

Yes, the market is tough but dedicate energy to finding another job, not this place. You will land something before it goes under.

What a joke this past meeting was ! While the c suite get incredible bonuses such as Mr. Lalljie ($2,345,000), Mr. Norden ($1,190,000), Mr. Hermalyn ($726,000) and Mr. McCullough ($726,000), to be paid in equal quarterly installments on each of April 1, 2024, July 1, 2024, October 1, 2024 and January 1, 2025. The rest of us get stiffed. There was even a group that received an email from the head of HR stating they were getting a 6% retention raise only to get a follow up email stating “Opps”, we made a mistake it’s now 3%! How insulting and pathetic.

From https://investor.2u.com/reports-and-filings/sec-filings/sec-filings-details/default.aspx?FilingId=17431462

" As previously disclosed by 2U, Inc. (the “Company”), the Company is in the process of developing and implementing a comprehensive performance improvement plan that aims to improve profitability, optimize its operating model, and improve the balance sheet. Given the need to retain key employees critical to these efforts during this period, the Compensation Committee of the Board of Directors of the Company (the “Committee”) determined that it was in the best interest of the Company to provide incentive for the continued dedication of these employees. Accordingly, on March 29, 2024, the Committee approved a retention program, pursuant to which the Company’s executive officers (“Officers”) will receive cash retention payments (the “Retention Program”) in lieu of receiving a 2024 annual bonus and an equity award under the Company’s 2014 Amended and Restated Equity Incentive Plan. In connection with the adoption of the Retention Program, the Company has entered into, or expects to enter into, a Retention Bonus and Clawback Agreement (the “Retention Agreements”) with each Officer, pursuant to which each Officer is entitled to receive cash payments in the following amounts: Mr. Lalljie ($2,345,000), Mr. Norden ($1,190,000), Mr. Hermalyn ($726,000) and Mr. McCullough ($726,000), to be paid in equal quarterly installments on each of April 1, 2024, July 1, 2024, October 1, 2024 and January 1, 2025 or as soon as administratively practical thereafter."

To the person who asked "if you're still at 2U why?" it's because the job market is so difficult, but it's better to keep your current job while looking rather than just quit and then be unemployed while trying to find something new.

The job market is definitely really bad right now. Look outside of edtech. You have a lot of transferable skills. Utilize your connections from 2U who have moved on to new roles, and reach out to friends, family, etc. Better is out there. Keep at it.

It’s a problem when LinkedIn posts a job and within a day there are hundreds of applicants. I feel like I’m constantly sending my experience into the ether to be seen by nobody.

the job market is tough right now. don't quit unless you've got something lined up. even getting fired for performance reasons usually comes with some severance.

Bwahaha - if you’re still at 2u: why?!

That meeting and follow-up emails were full of sh-t. Completely agreed- please start looking for new opportunities if you haven’t already! This company does not care about you and if anything, they are hoping for you to resign so they don’t have to give you a severance when layoffs come around again.