That is, of course, sarcasm. I think the employees of this company who remain loyal in spite of everything, deserve to be better informed about some things, for example about layoffs. What do they really want to achieve by hiding information about layoffs in a way that they cut people in smaller groups so that it all goes unnoticed? They think they'll convince someone that layoffs don't happen here and that this is a stable company?
2 replies (most recent on top)
@OP+1aW7mmT4. Please dont be this naiive. Cengage cares nothing for you. So you should care nothing for them. Use them. Collect your paycheck. Take as much time off as you can.
I know a former executive there who use to sit with his back to the door and sleep with his fingers on the keyboard. Think the movie Office Space.
Once you stop caring, it gets fun. But get yourself a dose of reality.
Cengage is a very transparent mission based company. If you look at Glassdoor you will notice that many employees speak highly of the transparency, values and feelings of acknowledgement from management.
Now as for the second part of your question Cengage is a very stable company. We have experienced unmitigated success with our Cengage Unlimited strategy. This has redefined the EdTech space and put us years ahead of any so called competitors while saving students millions of dollars.
The average student spends $1200/yr on textbooks. With Cengage Unlimited that same student is spending $119/semester with even greater savings if they opt into a larger term. We are changing the way students learn and the way knowledge is delivered.
Now the world is not full of sunshine and rainbows. There have been some growing pains as we transform from the publishing industry into EdTech. There have been layoffs but most were do to the transformative vision of management and the resourcefulness of our teams.
Cengage attracts the best and brightest but the company is also demanding and only those willing to live the credo are fit to stay. If you're not a disruptor, someone who can stand up and push back on the norm and take ownership of tough decisions chances are you will eventually be purged.
Along with the unfortunate and rare layoff come promotions of our best and brightest. These will be forthcoming in a company wide memo.
As for the financial shape of the company we are in the process of implementing some cost saving measures that will offset the slight losses from our print business as we continue to transform into a completely digital company. Rest assured, our available credit is very good and these business decisions will improve our EBITA.
Many of you will be meeting with your managers and an HR representative in the weeks to come as they share important updates with you.