公众号
关注微信公众号
移动端
创头条企服版APP

您是个人用户,您可以认领企业号

New Oriental Said to Cut 40,000 Jobs and Shut Down Core Business after China's Tutoring Crackdown

4992
钛媒体 App 2021-09-25 08:55 抢发第一评

BEIJING, September 24 (TMTPOST)—When the courses in this fall complete teaching tasks as schedule, New Oriental would stop offline enrollment for tutoring services on subjects in China’s compulsory education system in primary and secondary schools, and cities across the country will gradually shut down offline learning centers for these offerings accordingly, the founder and chairman Yu Minhong announced during an executives’ meeting on September 17, Tencent’s media outlet LatePost learned on Friday.

Since the business scales down, New Oriental is stepping up layoffs. Yu said in the abovementioned meeting that the company’s original plan is to lay off 40,000 employees but it just shed no more than 10,000 by the mid September. An executive expected the redundancies would exceed 40,000 by the end of the year, more than 40% of the work foce the company had in the start of the year.

The move suggests the major private educational service provider decided to exit its most important business amid China’s recent crackdown on tutoring sector. After-school tutoring for students in elementary and secondary schools contribute about 80% of the company’s revenue in the fiscal year of 2021, and 90.7% of its total enrollment in the previous fiscal year were students in the K12 group, according to UBS’s report in late July.

China introduced "double reduction" policy in May to reduce burdens of both homework and after-school tutoring on students. Two months later, it issued new rules to ban on tutoring services during weekends and vacations and after school tutoring classes that teach school curriculum, forbid education firms teaching school subjects to go public and order all the existing firms in the sector to go non-profit. Earlier this month, the government made further crackdown to prohibit unlicensed private tutors from giving compulsory education classes in the name of housekeeping or personal training, ban any online class on compulsory education through instant messages or live streaming offered by offline tutoring businesses.

The Ministry of Education recently stressed authorities will work to monitor one-on-one tutoring services and relevant departments shall coordinate better and use various methodologies to supervise private tutoring services to crack down on violations of the "double reduction" policy.

更多精彩内容,关注钛媒体微信号(ID:taimeiti),或者下载钛媒体App

声明:该文章版权归原作者所有,转载目的在于传递更多信息,并不代表本网赞同其观点和对其真实性负责。如涉及作品内容、版权和其它问题,请在30日内与本网联系。
您阅读这篇文章花了0
转发这篇文章只需要1秒钟
喜欢这篇 3
评论一下 0
相关文章
评论
试试以这些内容开始评论吧
登录后发表评论

发红包推广

已有226508人领了红包

已有红包文章99+

一大波红包文章在招手!
赶快分享起来,一起瓜分大红包吧

发红包
阿里云创新中心
阿里云创学院
×
#热门搜索#
精选双创服务
历史搜索 清空

Tel:18514777506

关注微信公众号

创头条企服版APP