https://www.bloomberg.com/opinion/articles/2020-08-20/covid-19-back-to-school-doubts-crush-textbook-publishers
Where does everyone work?
Seems like most posters here are in sales, but I'm wondering what other parts of the company come here? I am a marketing manager.
Moody's downgrades Cengage's debt; cites increased likelihood of default
Seems Moody's was none too impressed with the increase in digital subscriptions: https://finance.yahoo.com/news/cengage-learning-inc-moodys-downgrades-222805085.html
Chicago office
In last week’s Friday call, they said they are closing the Chicago office. Did anyone’s jobs get cut and is that all they are doing?
Let’s start over...
How many of you are actually happy at this company?
“Payment frequencies will be impacted”
Edwin Robles sent out an email that said “Payment frequencies will be impacted due to company-wide initiatives to preserve cash.” We still haven’t been paid our bonuses from last sales year, our pay got cut, 401k match got cut, and it’s already... — read more
Be real
Look. I’ve been following along with this thread for awhile. I for one, was someone let go from Cengage during a lay off in the last year... am I bitter? Not. At. All. It seems like there are so many people commenting who are jaded by the company and... — read more
From Yahoo Finance: Blue Chips Raising Finds Amid a Covid Bankruptcy Wave
"Upcoming in Distressed Cengage Learning Inc., the online education platform that terminated plans to merge with competitor McGraw Hill, reports earnings this week and plans a call Thursday morning. Retailer J. Jill, meanwhile, extended its... — read more
Who are these people?
Most ridiculous Glassdoor review I have read yet. Pros So many people say it on Glassdoor - but it's true. The people here are the best I've worked with. Always eager to help - very few turf issues or agendas that you see in other... — read more
Hey guys
I’m not seeing as many new digital adoptions as I expected. Was talking to my comp reps and they’re getting calls like crazy to install digital. You?
Congratulations to Michael Hansen being names on of Fast Company's Most Creative!
So proud to work for this creative man! Love the picture too...very flattering. https://www.fastcompany.com/90525618/most-creative-people-2020-michael-hansen
Salary cuts
When will they restore the 20% they cut our salaries? Any word?
Next lay-off?
When do you think we’ll have our next lay-off?
Message to All Here
If you are a Cengage employee you would be wise to refrain from commenting on this forum. Refer to your employee handbook regarding public statements about the company. If you have recently separated from the company it's clearly spelled out in... — read more
Cengage Unlimited is Transforming Lives
Greetings, After reviewing last quarter's activation rates it is clear that Cengage Unlimited has clearly been a game changer. We continue to lead our competitors within the Education Technology space and it has become evident that we have emerged... — read more
As long as this company continues to promote the inexperienced and unqualified in leadership roles, its future is doomed.
Drinking the kool-aid and spewing the company jargon in every meeting with your direct reports and executive leadership instead of talking on their level and really listening to what they have to say to understand what's going on? You'll get... — read more
Cengage's leadership problems summed up
I saw this on another company's board and couldn't believe how succinctly it describes Michael's failed leadership of this company. Bad leadership that doesn't listen to their employees. Good ideas come from ALL corporate levels. Blanket pay... — read more
Cengage Unlimited Has Been an Unmitigated Success!
Greetings Cengage Colleges, As I'm sure many of you learned in last week's investor call Cengage Unlimited is an unmitigated success. We have driven engagement to our MindTap platform and saved students millions of dollars. In addition, many of... — read more
Massive losses for FY20
The slide deck just went out and it’s ugly. Very ugly. Loss of $917 million for the year. Update those resumes.
Pearson lay offs, are we next?
Pearson laid off 150+ people on Wednesday. There are meetings scheduled for some people Thursday at Cengage. Are we getting laid off soon? Anyone have any inside news they can share?
Emergency Town Hall Meeting
Thank you, Michael, for calling that emergency town hall meeting to discuss racism. I can only assume that you and the other BCG/private equity white guys who make up the entire leadership team will be stepping down and letting POC take over the... — read more
June layoffs?
I heard that June is the next window for layoffs. Anyone have any more information?
This could be the death blow
https://www.edsurge.com/news/2020-05-21-nine-new-lawsuits-target-inclusive-access-textbook-programs-alleging-antitrust-violations
Anyone work in finance?
Just wondering how close we are to being out of cash. I know that we have cash on hand, but what are we burning through and how long can we last at the current rate?
NEXT ROUND IS ON US
So, how will the next round of layoffs be conducted? Will there be territory realignments and consolidation for sales? Will there be an increase with Inside Sales to compensate for small territories losing their Generalists? What will become of... — read more
Job security?
With the merger being officially cancelled what does everyone think about the future of their job at Cengage? Any reliable information? Are more cuts coming to sales, marketing, dss, customer service, and management teams?
Merger Plans Cancelled
https://uspirg.org/news/usp/statement-canceled-cengage-mcgraw-hill-merger-victory-college-students
Merger is Dead
One wonders what will become of Cengage now? https://www.thebookseller.com/news/mcgraw-hill-and-cengage-call-planned-merger-1201898
The Merger is off
The Merger is officially off, now what's next? https://www.prnewswire.com/news-releases/mcgraw-hill-and-cengage-jointly-agree-to-terminate-planned-merger-of-equals-301051596.html
A growing number of senators oppose the merger
https://www.feinstein.senate.gov/public/index.cfm/press-releases?ID=3D89952F-F773-4297-9B96-80FFFAB62E56
New COO
Why is one of the private equity owners suddenly taking on COO? Preparing to liquidate the company now that the merger is not likely?
Do you think our pay will return to normal in October?
The exec team forfeiting an extra 5% is a slap in the face. CEO should be getting 0 and exec team should have been cut 50% or more. Tired of them patting themselves on the back for every cut they make. We should unionize.
Merger Prospects Growing Dim
"Put simply, given this large (and growing) number of opponents, there is very little chance the merger closes in its current form." https://www.natlawreview.com/article/uk-begins-phase-ii-probe-cengagemcgraw-hill-merger
Merger delayed until at least 10/20/2020
Press release just went out. What now?
Cengage-McGraw Merger in Peril?
A piece on the InsideHigherEd site, the proposed "McCengage" merger delay may spell chaos for the important fall start/selling season and may not end up going through at all. The major issue seems to be the amount of overlap in lists and the number... — read more
Deals with Provosts as universities
Anyone here know anything about the deals Cengage does with universities? Anyone ever heard of the Personalized Learning Consortium?
Earnings call scheduled for 2/13
Prediction: Cengage Unlimited is still an unqualified success. Full stop.