Cengage is in the same trouble as Pearson. How many more jobs will be lost?
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Cengage is effectively a cult at this point, those still left behind are pushing the kool aid and blind to circumstances. The market cannibalization scheme failed since not enough takeaways were gained to offset the conversions from 119.00 to 30.00. The math will dictate the response in Spring once the investor's recover from their heart attacks.
The Cengage bloodbath is coming. Vice President and Director of Sales Kevin Stone was unceremoniously dumped days ago primarily because, after nearly seven years of negative growth, the ill-imagined "Cengage Unlimited" scheme failed to motivate the takeaway sales activity senior management imagined. Unlimited was a silly idea that was primarily dismissed by an academic community bent on academic freedom as a primary professorial "right" - but all the sales force managed to achieve is to convert standing $250 textbook adoptions into $119 Unlimited adoptions. The results will begin to become clear in the coming investor call, but suffice to say that Cengage is in store for a hefty downsizing. The only question is, this: the organization is already running on bare-bones, underpaid staff, so where do the cuts come? Who is sacrificed? Popcorn shopping is in order, it is going to be a Black Christmas in CengageLand. . .
I really haven't seen many jobs lost, just a few. Hardly what's happened at Pearson.