Coursera Announces Layoffs Due to Slower Growth Rate

IBL News | New York

Coursera’s CEO, Jeff Maggioncalda, announced in a public email to employees this week  that its company will start firing people due to the “slower growth rates, environmental uncertainty, and need to make whatever changes are needed, including reducing headcount expenses.”

“I’m sad to share that in order to slow our rate of spending, we have made the difficult decision to reduce the size of our team,” he said without specifying any number.

Maggioncalda explained that the company notified all impacted employees via 1:1 conversations with their managers and senior leadership.

Coursera currently has about 1,138 full-time employees.

Laid-off employees will receive a package of four months of pay (plus additional pay based on role and tenure), healthcare coverage for up to four months, which varies by country, and job placement assistance via Randstad RiseSmart.

The firm has also created a Coursera Alumni Talent Hub for impacted employees who want to opt-in.