Let's see how this mess continues to develop. ED has already changed rules about transparency with universities and OPMs that is scheduled to take effect in May. https://www.linkedin.com/feed/update/urn:li:activity:7039340383553626113/
Borrower Defense Claims Surpass 750,000. Consumers Empowered. Subprime Colleges and Programs Threatened.
As of January 2023, there are more than ¾ of a million Borrower Defense claims against schools. And each month, about 16,000 new claims are added. Those claims are disproportionately made against a number of for-profit colleges and formerly... — read more
Steer clear for your own sanity
This was written in 2019, yet not much has changed. Except it has gotten worse. No more company meetings is a plus. “Steer clear for your own sanity" Admissions Counselors at 2U perform work much closer to fraud telemarketing than "counseling." The... — read more
More Layoffs Today
At least one team was gutted with no prior warning
Here we go again
Looks like the other shoe has dropped only this time they're not dragging us along for the ride....
2U may make a profit?
"The consensus EPS Estimate is $0.21 (vs. -$0.20 last year) and the consensus Revenue Estimate is $234.72M (-3.6% Y/Y)." https://seekingalpha.com/news/3930864-2u-q4-2022-earnings-preview
Benefits reduction, RTO, trying to weed people out?
Since the company has now cut tuition benefits, begun policing UPTO, and is now demanding RTO do we think they are hoping people will voluntarily resign? Are more layoffs coming? Also, I was told sick/safe leave is now included in our 20 days of... — read more
US Department of Education Office of Inspector General
Can you imagine 2U being involved in an ED-OIG investigation? https://www2.ed.gov/about/offices/list/oig/justissued.html
2U's biggest cheerleader... https://www.msn.com/en-us/money/savingandinvesting/cathie-wood-feels-investors-pain-foresees-gains/
(Wall Street Journal) University of Southern California Sued Over Education-School Rankings Claims
So what's Chip doing these days?
https://www.si.com/nfl/dolphins/news/miami-dolphins-december-4-2022-mailbag What happened with that BYJUs deal BTW?
2U: This Business Will Not Stand The Test Of Time
"I continue to hold the opinion that difficult macroeconomic times flush out the bad businesses and separate them from the good."
University of California System Strike Authorization
Could a UC System affect 2U? And is there something 2U workers could learn from this? https://www.commondreams.org/news/2022/11/03/university-california-academic-workers-overwhelmingly-vote-strike
Sounds like BS to me. But it is fascinating... https://seekingalpha.com/article/4554483-2u-inc-twou-q3-2022-earnings-call-transcript
This place is looney and everybody knows it
Pros Can play tetris and solitaire every day and pretend like you're working - Upper management in the B2B Enterprise Sales org is oblivious - didn't work at all and still got paid monthly commission - If you want to waste your time, stay idle and... — read more
2U is an exemplar of the College Meltdown
"The College Meltdown is occurring at all levels, but the schools hardest hit are for-profit colleges, community colleges, small colleges and regional universities. Now we even have elite schools managed by online program managers (OPMs) that have... — read more
Student Success is next
Heard from a reliable source that SS teams will be laid off next,
OPMs not meeting expectations
"A survey of chief online learning officers indicates that online program management companies, or OPMs, aren’t meeting their expectations for marketing and recruitment, even though these are the services the college officials said they needed... — read more
It's no wonder Chip is distracted...
Looks like he's been busy founding a new company. A sign even he's ready to jump ship? https://proathletecommunity.com/about-pac/
2U Lost 21% of value this week alone.
lol. anyone want to take bets when the stock gets delisted?
Things are WAY worse than you think.
2U has lost over 90% of it's stock value since 2018. The stock is now in the $6 range and will likely drop lower soon. The company has only had one quarter where it turned a profit. Last quarter it lost more than $0.06 billion. The quarter before... — read more
What Chip said at the last co-----l party...
"CP, CEO and co-founder of 2U, acknowledged the tough market conditions. “I show up at co-----l parties right now, and people go, ‘How are you?’” he said. “Because, obviously, it’s not been pleasant lately. And we take that very seriously. Our... — read more
Anyone finding LHH outplacement services helpful?
So far I'm finding Lee Hecht Harrison consultant to be useless. They seem to have a tunnel vision of what next steps should be and are not listening to what I want. Is anyone finding them to be a real resource or is it just a guise for 2U to feel... — read more
Employee productivity monitoring
Does any one know which employee productivity monitoring system 2U uses? In the past, I know our computer activity was monitored, but now that we are remote and restructuring I have a feeling they are watching more closely.
Not laid off but wish I was
I made the cut. I can barely focus because I feel so angry at the company. I also hate my actual job here. I wish I was laid off and someone who wanted their job could have been saved. I have guilt about still having a job here and dreaming about... — read more
Even if you don't plan to leave, start sending out applications
Too many people have been out of the hiring game for too long and I know for a fact that being laid off has left some of them feeling completely lost. There's an easy way to avoid this: start applying for jobs even if you're not planning on leaving... — read more
What's the chances the Nasdaq delists 2u because it stock price is below $1 for 30+ days?
Defense to Repayment (aka Borrower Defense)
For anyone who feels guilty about enrolling people into programs they could not afford, there is a group of folks who are appealing to the US Department of Education for debt relief. While the first in line will be for-profit colleges, 2U students... — read more
It takes work and dedication to bring to fruition, but it may honestly provide the potential to directly address all levels of the just Wrongness that this place has perpetually evolved into.
Diversity -- Equity -- Inclusion -- Oh My!
Let's see how long this post stays up before it's censured by Caucasian guilt. If you are a beautiful black American, you should take a look at the 2u board of directors and the mutual funds that own 2u. If you can get past the obvious lack of... — read more
Limited communications coming from Chip and his team. There's likely to be another round of layoffs, maybe a few more. SVPs and VPs are not immune either.
Ming boggling getting laid off after 5+ years with this company. Being on the creative team and taking away my access 10 minutes after the HR meeting is disrespectful. That computer become my main device at home with personal files, pictures, and... — read more
Did anyone try to negotiate their severance? Trying to see if it’s even worth talking to a lawyer
Who are the affected teams?
My manager has been tight lipped so have no clue who exactly has been affected over the last month to today. What marketing (and non marketing) teams have been impacted by the layoffs? Chips email so vague.
Strange decisions on who to lay off
Some of the best people are gone and some of the slackers are still here. I guess their brown-nosing paid off.
Do NOT accept their severance offer without speaking to a lawyer!
It looks like they are only providing 5 weeks of severance. After speaking a lawyer, I'm told that 4-6 weeks (depending on level) of base salary per year of tenure is standard. This should also include equity and expected bonuses. Some of you may... — read more
Last working day is 8/31. I've only been with the company since June. I'm receiving 5 weeks severance, they're covering regular insurance for September, and covering COBRA until 10/31. Disappointed to be leaving, but for such a short time at 2U -... — read more
quiet getting laid off
I don't know how much longer I can last working here ... but I am in the 2 year tuition payback period ... How can one discreetly get let go in the next round/s?
Layoffs will increase quite a bit in Aug/Sept. Chip and his team are pressuring for more names. You're performance is being watched, particularly those working remotely.