I left the company 3 years ago when the cult mentality started taking hold, and it sounds like it’s gotten out of control. With revenue nosediving over the past few years - and Cengage Unlimited’s inability to slow the bleeding - doesn’t the company need to shrink significantly? Cengage is still pretending it’s a $2B/year company when in reality it’s half that....
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Layoffs already started! SF office is being closed taking 200+ jobs with it. Smaller layoffs have started in Mason and Boston. Chicago is rumored to be next for a closure and field sales is rumored to be the next division with major layoffs.
The saddest part of the whole thing is that sales and marketing have been promised bonuses. Guess who’s paychecks those are likely coming from? San Francisco employees, most likely. People with over 20 years at the company were unceremoniously dumped without warning in San Francisco.
Pro Tip: If you receive a Town Hall invite without a Zoom link and asking all WFH employees to come in, your office or division is likely being closed.
MH is still around because he's most likely pleasuring someone, KS was unskilled at this endeavor and met his fate...
Can someone explain to me how MH has been CEO for so long? The numbers have gotten worse every quarter for, what, 5 consecutive years? MindTap flopped, and the company was caught sleeping on rentals and now OER. He has a new excuse on every investor call that boils down to “we saw this coming, but just wait until next year!” When will the investors say enough is enough? He seems to be throwing anything and everything at the wall (rentals, unlimited) just to buy time while cash burns and the debt piles up. All of his original c-level cronies left or were run out of the company. If this doesn’t change, the company will be taking a second trip through bankruptcy court very soon.