Thread regarding Cengage layoffs

Show's Over (for now)

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 when word comes that the merge has been approved and is scheduled to happen. Could be calendar Q1 or Q2, no one knows at this point. Hanson/Hansen has a "Day Zero" plan in place which states that the downsizing and collectivizing will begin on "Day Zero" – so that they can step into "Day One" as a merged company ready to roll. The layoffs at that time will likely be internal and substantial in nature.

The second wave is slated to happen once the school year and selling season has ended, which means you might want to peek in here during the first two weeks of May. This wave of layoffs will focus on sales and those who support them, and it will be quite substantial in nature.

After that, things should settle in until the third scheduled wave happens in 2021.

Enjoy your holidays, folks - and a happy New Year to you and yours!

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Post ID: @OP+124qP7sP

3 replies (most recent on top)

Just ask him to clarify in the Town Hall tomorrow.

Post ID: @1nrc+124qP7sP

Sorry, you're going to have to provide a link to where Hansen said that.

Because, in fact, he didn't. Rather, he indicated that the cuts goal was around $400 million, which would equal a bit over one quarter of the combined companies - fiscally speaking. In terms of headcount, the estimate is some 35-45% of those currently employed.

He also made it clear that the recent Cengage cuts were NOT part of the post-merger cuts, but rather these were extra cuts.

Post ID: @1jah+124qP7sP

Michael said that with the merger 10% of employees will be cut. I’d guess there are around 9000 employees between the two companies so we can expect approx. 900 employees to be fired. The recent rounds were somewhere between 100-150 people so imagine how 900 will feel. This isn’t being negative, it is what he told us. But look at it this way, 9 out of 10 people will keep a position with the company (although your job will likely change if you survive).

Post ID: @1zas+124qP7sP

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