Greetings Cengage Colleges, As I'm sure many of you learned in last week's investor call Cengage Unlimited is an unmitigated success. We have driven engagement to our MindTap platform and saved students millions of dollars. In addition, many of... — read more
Topics regarding layoffs at Cengage
The slide deck just went out and it’s ugly. Very ugly. Loss of $917 million for the year. Update those resumes.
Pearson laid off 150+ people on Wednesday. There are meetings scheduled for some people Thursday at Cengage. Are we getting laid off soon? Anyone have any inside news they can share?
Thank you, Michael, for calling that emergency town hall meeting to discuss racism. I can only assume that you and the other BCG/private equity white guys who make up the entire leadership team will be stepping down and letting POC take over the... — read more
I heard that June is the next window for layoffs. Anyone have any more information?
With the merger being officially cancelled what does everyone think about the future of their job at Cengage? Any reliable information? Are more cuts coming to sales, marketing, dss, customer service, and management teams?
So, how will the next round of layoffs be conducted? Will there be territory realignments and consolidation for sales? Will there be an increase with Inside Sales to compensate for small territories losing their Generalists? What will become of... — read more
The exec team forfeiting an extra 5% is a slap in the face. CEO should be getting 0 and exec team should have been cut 50% or more. Tired of them patting themselves on the back for every cut they make. We should unionize.
Why is one of the private equity owners suddenly taking on COO? Preparing to liquidate the company now that the merger is not likely?
"Put simply, given this large (and growing) number of opponents, there is very little chance the merger closes in its current form." https://www.natlawreview.com/article/uk-begins-phase-ii-probe-cengagemcgraw-hill-merger
A piece on the InsideHigherEd site, the proposed "McCengage" merger delay may spell chaos for the important fall start/selling season and may not end up going through at all. The major issue seems to be the amount of overlap in lists and the number... — read more
Prediction: Cengage Unlimited is still an unqualified success. Full stop.
Merger deadline has been extended until 1 May 2020. Regulatory approval is still a question mark, as significant objections have been raised in the UK and in Australia, along with numerous groups in the U.S. (most notably the College Bookstore... — read more
The merger is not going to happen. The DOJ wants McGraw to divest a number of key assets which it will not do. They are waiting, as long as possible, to let Cengage self annihilate and become a fire sale of assets. McGraw just went through extensive... — read more
https://nypost.com/2019/12/16/students-howl-as-mcgraw-hill-pearson-textbook-merger-nears-doj-approval/ The Department of Justice is on track to OK a merger of textbook sellers McGraw-Hill and Cengage despite vocal opposition by student groups who... — read more
When is the merger supposed to officially happen? Will the majority of remaining cuts happen ASAP or will it happen in March after the rush? Will the majority come from Cengage or McGraw?
I wanted to take this moment to thank MH, the executive team, IT, sales management, the coders in Boston and the marketing team for insuring that CU was a complete disaster. We did what we were told, we pushed your nonsense for 18 months, we... — read more
Announcement just went out saying a board member has resigned. Things are going to get very interesting in January
I have to admit I'm one of the (judging by this forum) few who is hoping the deal doesn't go through. Mergers always, and I mean always end up in major layoffs. And while some might be consolidation related, the companies usually use the opportunity... — read more
So When do we merge from the mcgraw cengage lanes into the big McCengage super highway? How many will be cut and who's first?
That after the merger and reducing 300 million in labor costs that even the platforms will be deleted. Mind tap aplia WA etc will be history.
So Michael Hansen only shows up to do the 30 minute Keynote 4 days into the annual meeting. He basically berates(does not even try to do the usual fake hype/motivational stuff) everyone for "looking over their shoulder"! Smart people should be... — read more
I do not understand why people think, or expect, companies to be loyal to them as employees. This is a capitalistic society. Money rules and employees are just that. They are people employed to make the company money. The company is the ruler – the... — read more
How is it that MH has fostered so much subversion and anger contrasted with the fake image that Cengage is a progressive, contemporary dynamic software enterprise with the world's greatest CEO? Yet, the complete opposite is projected here in this... — read more
Has anyone else in the October "RIF" not seen a direct deposit since November 1?
So many years I gave to this company, working late, overtime, from home, through breaks and lunches, furthering my education, and moving up to be let go right before the holidays. I really hope that the ones left do not make the same mistake I did in... — read more
I would personally be overjoyed. A chance to leave this place with a decent safety net - can't get much better than that.
I'd be interested in thoughts or details from Monday's town hall meeting. No doubt much of it was predictable, but was there anything noteworthy?
https://finance.yahoo.com/news/mcgraw-hill-reports-strong-growth-134500869.html Astounding if they continue with the plan of putting Hansen in charge of a merged company.
Wow, glad I’m not in Higher Ed or Skills.
The Cengage show is over, thank you for attending, ladies and gentlemen. Time to turn our minds to other matters and for those remaining at Cengage to begin whipping those resumes into shape! You will know it is time to peek in here again... — read more
Feeling frustrated and angry over the job loss situation at Cengage? Want to give Michael Hanson and others on the management side a piece of your mind? Just feel like venting or sharing? This here's the place. It is true, Hanson's job is... — read more
From a previous thread. This is accurate: The entire plan has always been to move to digital which will allow CL to gut its sales force and support infrastructure. Cengage's revenue will continue to decline. Notice there is no talk about growth in... — read more