Recently, news of layoffs came out again at the executive meeting of New Oriental.
According to media reports, Yu Minhong, founder and chairman of New Oriental, said at the executive meeting that the company originally planned to complete the 40,000 layoff target by the end of August, but as of mid-September, the actual layoffs were less than 10,000.
Yu Minhong also announced at the meeting that after the end of this fall course, New Oriental will stop the offline enrollment of various businesses in elementary and junior high school subjects, and subsequent cities will gradually close teaching sites. He even said, “Weiya can sell more than 10 billion in a year. I brought dozens of teachers to live broadcast. Can I make more than 10 billion in a year?”
At the same time, on the Maimai platform on September 24, employees who were certified as “New Oriental HR” posted posts to recruit short video directors and live broadcast operations supervisors. The aforementioned various signs have been speculated by the outside world that New Oriental may have new actions in live broadcast and short videos.
Under the policy, New Oriental ushered in changes, another change is the postponement of financial reports.
On August 1, New Oriental issued an announcement stating that it had decided to cancel the board meeting originally scheduled for August 2 and the results announcement for the fourth quarter of fiscal year 2021. After nearly two months, New Oriental has been late with its latest performance report.
According to the financial report, New Oriental recorded a total revenue of US$4.277 billion in fiscal 2021, a year-on-year increase of 19.5%; net profit for the period was US$230 million, a year-on-year decline of 35.2% from the previous fiscal year.
At the same time as the news that New Oriental will lay off 40,000 employees, on September 25, New Oriental held a press conference for the brand upgrade of college students’ business in Beijing.
The focus of New Oriental’s conference is that its existing four- and six-level projects, postgraduate entrance examination projects, overseas examination projects, teaching resources projects, and accounting projects will be fully upgraded. In the future, it will also expand computer rank examinations, judicial examinations and other education training. project.
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