I commend everyone who came on camera and spoke out today. Especially the SSA who summed it up. We can’t afford to live. They are tone deaf and have a few million bucks in bonuses as the rest of us do the work to bring in revenue. While it will never happen it’s really starting to be clear that there’s power in numbers. What if we all just stoped working until they fixed it. Like I know it’s crazy but they’d have to do something if one morning no one logged on. No admissions, student success, placement, engineers- they can’t afford to train an entire new staff. They need us to train people on our jobs and as it was stated we’re all doing multiple roles. Imagine if one day they woke up and we all just stood together and said no more. No phone calls, no emails. No nothing. That 3 month window Paul created today would probably turn around pretty quickly. It’s anarchy, it’s a fantasy I know. But imagine what that leadership team would do. That 5 million they got would move around pretty quickly I bet. Idk just a thought. Today was outrageous imo.
5 replies (most recent on top)
https://www.youtube.com/watch?v=9dFNJiWzuVY
As an ex-2U employee, I am disgusted by what I am seeing. This is the classic Exec get rich quick corporate playbook. Chip can destroy a company and yet walk away with somehow getting $20k/month and Paul can get a $2.5 million dollar bonus for driving an unprofitable business even further into the ground.. where does this corporate bs end? Where is the accountability? When will investors speak up??
To those still on the inside, you should be looping in the Dept. of Ed and WSJ. The Dept. of Ed is already panicking over 2U’s failing business and what that will mean if multiple major institutions online programs go under… if they caught wind from their workforce of the blatant selfish financial decisions being made by their former CFO, they’d have a field day.
At this point, I’d invest in a neighborhood lemonade stand over this company.
The reality is we should’ve kicked the whole executive team who stood by and let Chip do his worst. I assume the Board only approved these retention bonuses because they know how hard it would be to find someone willing to risk their career on the challenge. Still it’s disgusting that they would accept these bonuses. Regardless the money hungry executives won’t let the company go under till 2025. So we’ve got the rest of this year to hold them accountable.
The problem is that they don't know how to fix it, so they're looking out for themselves. The reality is that the executive team has made a lot of bad decisions, with empty promises to partners and board members, and no idea how to make those promises a reality. Even in the most recent shareholder update, they talked about leveraging AI to improve efficiency but they have been talking about that for over a year and there's no talk about it internally.
And this isn't just on the executive team, there are a lot of SVPs, VPs, Directors, etc that have no accountability or business being in the role that they're in. Ultimately though, it's on the executives to manage that and they haven't. The last couple of rounds of layoffs have only shown that they prefer to keep cheap leaders who say yes over investing in leaders who will challenge the status quo and advocate for doing things the right way.
That was comical to say the least!