While they are doing so, actively listen to what they are saying. Cengage Layoffs: Downsizing related discussion, postings, questions and answers. “[L]arge layoffs tend to result in a substantial decline in employee morale and commitment and a significant increase in stress. City: State: Number of Affected Employees: Date: Source: San Francisco. Uncover why Cengage is the best company for you. The market can no longer support these companies. You seem to give zero value to experience and even less to the knowledge these people have acquired. In an investor call last week, Michael Hansen, CEO of Cengage, said the publishers continue to “make good progress” on the merger, but he conceded that securing U.S. regulatory approval would require more time than anticipated. I know those of you who are left at Cengage are trying to cling to some justification for why you choose to stay by saying "Well every other company has massive layoffs too!" On the Content side there are still senior employees that refuse to budge from their print mindset. New Zealand and Austria. Major Layoffs at Cengage - an Ed tech company. A Cengage spokesperson did not confirm how many employees or which roles were affected. A spokesperson for both McGraw-Hill Education and Cengage said that conversations with the Department of Justice regarding potential divestitures are ongoing. Of course. On the other hand, the lives of each of … Layoffs and Job Reductions. The majority of these long time employees still want to hand you paper corrections, can hardly send an email or use Zoom yet are the first to throw anyone under the bus. @8nxc+186PG6Oh Layoffs happen at every company. Browse all jobs on Inside Higher Ed Careers », We are retiring comments and introducing Letters to the Editor. This company does layoffs every quarter. A lot of these old hags still insist on getting a print product complete with all revisions before turning over final pages for digital content. The accelerated digitalization of education drove a strong financial performance for Cengage in the second quarter of fiscal 2021. The market has no use for Cengage, MGH or Pearson. A lot of that talk about targeting senior employees in't completely true. But whatever you do, don’t try to pull a fast one. So far, neither party has publicly made a commitment one way or the other, possibly fearing an adverse reaction from textbook authors. Until that time, Cengage and McGraw-Hill remain separate companies, and it is business as usual for us and our customers. Anyone over age 45 better have saved a lot, because it will take longer and longer to find a new job unless it’s contract work. A free inside look at company reviews and salaries posted anonymously by employees. A further extension to Aug. 1 is possible by mutual agreement, though this would take the publishers dangerously close to the start of the fall semester -- an important sales period. Constantly updating your skill sets for the next move is the best you can do. It’s not just Cengage: https://qz.com/work/1663731/mass-layoffs-a-history-of-cost-cuts-and-psychological-tolls/amp/. Since Cengage and McGraw-Hill Education have so many competing textbook titles, it was anticipated that they would be required to sell a large proportion of them. They simply don't understand that content revisions can be pushed and that the directive from the top is that we're a technology company, not a print company. Shows how out of touch those old fleabag editorial hanger-ons are. If you hit all of these points in a small, quick speech, you will help settle the nerves of the retaining staff members. Wasn’t that the old cafeteria when we were at Thomson Place? We continue in discussions with the DOJ and we will see.”. Search. A layoff is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing (reducing the size of) an organization. The merger was conceived as a merger of equals, but perhaps it could turn into a takeover, they suggested. Find out what works well at Cengage from the people who know best. When my name was pulled out of the Layoffs Hat, the department was down to about 110 people. To prepare for the merger, Cengage is downsizing in an effort to reduce its operating costs. —18 days ago Be the first to know.Get our free daily newsletter. We actually have one senior publisher who wants CD-ROMs in a book right now. Many Massachusetts-based companies have seen layoffs within the last couple of years. In the short term, it is anticipated that the publishers will stop developing new products or making large investments. TheLayoff.com is a simple discussion board for all of us who would like to learn more about the rumors or possibility of job cuts in our company. Encompassing 120,000 square feet, the space offers a number of features, benefits and offerings for the nearly 600 employees based in the greater Boston area. It's changing now, and the "tenured" (LOL!) 2019-03-29. Exit interviews, which you can sort of think of a layoff notification meeting as, tell you a lot about your company and how your staff is feeling. Until the merger is completed, we remain separate companies and operate as independent businesses,” the spokesperson said. Messages relating to layoffs at Cengage are presented below the company info. If the merger proceeds, observers and industry analysts will be watching closely to see whether any of McGraw-Hill Education’s titles become part of the Cengage Unlimited subscription offer, where students pay one flat fee to access all course materials. "Low Pay, Constant Reorgs and Layoffs, VERY cliquey" 1.0 ... Cengage was made from a lot of mergers with smaller publishers and everyone has their own practices and rules. Like (2) The Cengage brand means nothing. The most recent is ESPN's, also posted on the organization's website. Some were asked to move to Boston (Head quarters) but majority were let go. So much debt! She teaches undergraduate and graduate courses in business writing, persuasive speaking, and corporate communication. MInd Tap is a joke. As both McGraw-Hill Education and Cengage recently have laid off hundreds of employees in anticipation of merging, questions have arisen about how day-to-day operations at the publishers will be impacted if the merger continues to be delayed or perhaps even abandoned. Decisions are made on a course-by-course basis using a market concentration measure known as the Herfindahl-Hirschman Index. On The Layoff, an anonymous discussion board for rumored company layoffs, some commenters theorized that it would be in McGraw-Hill Education’s interest to delay the merger given Cengage’s relatively weaker financial position. 182. The sad reality is that nowadays week to week is all you can expect no matter what company you work for. At one time the authors were great, but those days are long...long gone. The merger has faced fierce opposition from consumer advocacy groups, students and even college bookstores, but a fast-changing publishing environment and challenging negotiations have added complexity to the process. It's not normal. Small, aggressive, solid competitors are eating away at market-share, Use of this website constitutes acceptance of our. Cengage is #BuiltForThis – whatever 2021 throws at us, we’ve built a strong foundation of easy-to-use, quality digital learning solutions that are designed to empower all kinds of students. Opponents to the merger worry the new mega-publisher, to be called McGraw Hill, will significantly reduce competition in the textbook market and enable the company to drive up prices. McGraw-Hill and Cengage unveiled the transaction in May and are seeking approval from antitrust authorities worldwide, including in the U.S., U.K., New Zealand and Austria. To that end, share market data and competitive information. The message is typical in some ways but not others. By no means is it easy or simple, but there's at least a finality to it. When Downsizing is The Answer But I have never worked at any company - nor heard of any company - that has had over a DECADE of rolling layoffs like Cengage has. ... RealNetworks founder and interim chief executive Rob Glaser has posted a layoff email to employees on Facebook. The industry has changed drastically. On this issue, the spokesperson for the companies said simply, “both parties maintain their commitment to continuing and growing their inclusive access and Cengage Unlimited subscription programs.”, During the investor call, Hansen said, “Given the most recent industry developments and ongoing affordability pressures, the rationale for the merger remains strong. As that date fast approaches, it seems increasingly unlikely the companies will achieve their goal. Amy Newman is a senior lecturer of management communication at the Cornell SC Johnson College of Business, School of Hotel Administration. The Justice Department is rumored to have asked the publishers to make a divestiture worth around $175 million -- the upper limit of what the companies stated they were prepared to do in their merger agreement. This is the sign of a very sick and dysfunctional company. We’re unabashedly raising the bar on our standard of service, and look forward to helping faculty, institutions and learners reach new heights in the New Year. Officially, the merger is still expected to take place in the first half of this year. If someone is asking for a CD ROM in a book it’s someone’s job to tell them we’re not in 1998 anymore and to cut that sh– out. About the Author. Cengage Learning Inc Layoff History. The layoff — along with a recently introduced early retirement program, which 166 employees opted into ... Other education publishers, including Pearson, Cengage, and … Oh, and whatever you do, do NOT age. Cengage saw strong sales growth as the Online Skills business grew by more than 40%, and Cengage Unlimited drove the company’s affordability initiatives forward as total student savings surpassed $270M. Explain the benefits offered to staff members: outplacement, severance, etc. Sure. Hansen replied that there are scenarios in which the logic for the merger no longer holds, “but as I said in my prepared remarks, we are continuing in very constructive and thoughtful discussions and frankly we would not have entered the agreement if we thought that would be a big possibility.” He added, “We don’t see this as a real big scenario at this point, but the situation is fluid. Least a finality to it won ’ t throw out the baby with the bath... Glaser has posted a layoff email to employees on Facebook the act of dismissing employees especially. 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