Under the "double reduction" policy, Yu Minhong, the founder of New Oriental, led the "brave man breaking his wrist" action and officially bid farewell to the era of education and training. From donating desks and chairs to retiring the rental of the teaching site, Yu Minhong decided to maintain decency.
In the live broadcast on November 7, Yu Minhong revealed that New Oriental's biggest business, K12, decided to stop. They originally had nearly 1500 teaching sites, and it cost six or seven billion yuan to renovate alone. Now, these teaching sites are facing rent refunds, but also have to pay liquidated damages, refunds of student tuition fees, and teachers' resignation wages, etc., which is a huge cost.
"New Oriental has a rule that if it is not done or goes out of business, the funds on the book must be enough to refund student tuition fees and pay all employees' s severance wages at the same time, which is a rule that saves New Oriental." Yu Minhong believes that there is no problem with the company's capital chain.
Next, New Oriental plans to set up a large-scale agricultural platform, with its own and hundreds of teachers to live stream goods to help sell agricultural products and revitalize the countryside.
On November 4, New Oriental public account published an article titled "When a red truck, drive to the far side", which was forwarded by Yu Minhong in the circle of friends. The article mentioned that nearly 80,000 sets of desks and chairs have been donated to rural schools.
Under the "double reduction" order, the impact faced by this 28-year-old education and training institution is incalculable. According to the financial report, the net profit of New Oriental in the fiscal year of 2021 was 230 million US dollars, down 35.03% year-on-year, and the market value also shrank by nearly 80%.
Previously, New Oriental K12 business has been greatly reduced in scale and laid off employees. Since September, New Oriental has begun to completely stop the enrollment of primary and secondary school students. According to Red Star News, the layoffs at New Oriental Online's Beijing campus have been laid off since August 25, and three or four thousand people have been laid off nationwide due to business closures.
Some of these employees who left From New Oriental have welcomed new jobs and new lives, and some are still unemployed.
Li Zheng, a teacher at the Beijing campus, told Jiupai News that after he was laid off, he had been idle in his hometown for more than two months, and "now he doesn't want to do anything, he is tired," he told Jiupai News. Wuhan campus employees xiangnan has found a new job, went to a school as a physical education teacher, sometimes more classes.
After leaving the Wuhan campus of New Oriental, The English teacher Jia Rui took a month off, and she did not apply for a formal job, but only occasionally gave small lessons to students. In her view, those teachers who come out of the education and training industry "have no way out" because over-aged teachers cannot be tested, and schools are more inclined to recruit fresh graduates rather than teachers in the education and training industry.
"Now there are too many people in the education and training industry, and the more people there are, the more people will be a bit depreciated." After seeing the New Oriental plan to be transferred to live broadcasting, she felt that this could solve the problem of internal transfer of some teachers. "If New Oriental wants to recruit back the previous teachers to do live broadcasting, I will consider going back, although I will have to return the nearly 80,000 compensation."
Here's what Jiarui said:
I left in October, and I had classes at the time, but I felt that the prospects were slim, and I didn't want to do training, and I was very tired in class.
At that time, the amount of lessons for each teacher in New Oriental was insufficient, so I said to the leader, "If I don't give all my classes, give them to other teachers, and keep two teachers, HR can optimize me." ”
I worked at New Oriental for four or five years, and according to the N+1 compensation plan, I received more than 70,000 compensation. Not counting the loss of more, I know that there are hundreds of thousands of losses, the arrival of the account is quite fast, will not be like some of the company's HR, give you the number of days to deduct, New Oriental to give money is still very refreshing. I was not in the list of october optimization, but in November and December, there may be no optimization, the economic situation of the institution in October is still relatively good, the later may be less and less classes, whether there is compensation is uncertain.
Later, the income of teachers will also be greatly affected, there is no salary without classes, it may not be optimized, and some teachers will go on their own.
The teachers who stay behind will do other quality courses, such as physical education, art, and makers, and the subject classes will not be renewed at the end of this semester. There are not many people who have transferred internally, and I know that there are those who have moved to operations or sales. The sales department also has layoffs, so it depends on their performance after the transfer.
New Oriental teachers originally had requirements in the student renewal of this piece, the teacher turned to sales, in fact, better to communicate with parents, tell them how effective the learning is, but many teachers can not put down the shelf. In fact, there is no shelf without shelves, you have no food to eat and no shelves?
Sales employment is better to solve a little, than the teacher's way out will be better. He is no longer staying in New Oriental, he can go sell other things, but the employment scope of teachers will be much narrower. I feel very sad about these people who come out of the education and training industry.
Because many teachers were recruited through the school, they were still very young at that time, and my leadership was like this, and New Oriental was his first job. They are all married people in their thirties and forties now, have children, have mortgages and car loans, teachers must be under 35 years old, they want to go to the exam, they are already overage. Moreover, they have not done anything else, which is equivalent to blocking the way of these people, what can they do? I learned that some teachers over the age of 35 went to public schools and could only work as substitute teachers.
Now there are too many people in the education and training industry, and the more people there are, the more people will be a bit depreciated. Young teachers will want to go to public schools. I learned that these schools would rather be recruited by the school, and the last step will be to choose the education and training industry.
Once I went out with a friend who was doing HR, he asked me if I had recently applied, I said not yet, I want to take a break, anyway, the money is enough. Later, he said, "When we are recruiting, when we see resumes from the education and training industry, we will directly brush them off, because there are too many people coming out of this industry now, they are all very solidified in the way of class, and they have to be retrained after going in." ”
The salary of the education and training industry is much higher than that of ordinary schools, and the schools in Wuhan may be 3,000-5,000, and the salary will last to 8,000, and the salary will be more than 20,000 when we have the most classes, and the class will be about 10,000 when it is normal. If I want to go to a private public school now, the teachers may not look at the salary there, and they will think that I take four or five thousand a month, and I will stay from morning to night, more or less psychological gap, and I will not be so careful after applying, and the school may also take this into account.
People who come out of New Oriental and jump to other training institutions are also very rare. New Oriental is almost unable to sustain itself, going to another small institution is almost the same, maybe it will not lose money if it is laid off, and there are too many institutions that run away with money recently.
To be honest, I didn't think about what I was going to do in the future, and I recently gave a small lesson to my students. In the future, I don't want to do full-time education and training, and I hope to do the kind of work that has a clearer boundary between work and life. After entering New Oriental, you rarely have your own time, a parent's service is basically 24 hours, New Oriental everyone has a strong sense of faith, like playing chicken blood, there is no concept of leaving work. As long as your phone is still there, it is normal to notify you even at 11 o'clock at night. If you don't reply to WeChat, you seem out of place.
After the K12 business is closed, the focus of New Oriental will shift to adult education, such as college student business, study abroad test (IELTS, TOEFL, etc.). It is very difficult for K12 teachers to transfer to study abroad teachers, and I personally feel that it is in terms of insight and skill. First of all, to teach IELTS TOEFL, the most basic requirements are IELTS to 7 or 7.5, many of the K12 teachers IELTS I KNOW can not get to 7 points, their skills are not enough. Because it is taught to elementary school students, the words exposed to are very basic. The way of taking classes can be adjusted, but in many aspects, your vision and English contact are difficult to improve.
K12 also has a teacher who has a background in studying abroad, but to transfer to the outside of New Oriental Sea, it depends on your school ranking, major, etc. Because of the epidemic, english training for studying abroad is not easy to do, there are not so many positions to provide, and now many people who have returned from studying abroad cannot go to the outside world to teach.
Teacher Yu said in the live broadcast room that New Oriental plans to set up an agricultural platform in the future, and hundreds of teachers bring goods through live broadcasting, which I think is very good. We have always felt that he is a very affectionate and loving person, new Oriental has a volunteer teaching project every year, and the quota is very sought-after as soon as it comes out.
A few hundred teachers to do live broadcast is not enough, if you want to not broadcast for 24 hours, tens of thousands of people to watch, the operation team behind needs to be very strong. Most of the teachers who do live broadcasting will probably be selected from K12 teachers, and this plan is actually very good, solving the problem of internal transfer of some teachers.
If New Oriental plans to recruit back the previous teacher to do the live broadcast, I will consider going back, although I will have to return the nearly 80,000 compensation. Hundreds of people do live broadcasting, and to be honest, the employment problem for K12 teachers is a drop in the bucket. I learned that there are three or four hundred people who have been optimized in Wuhan. If you want to open a live broadcast, it is likely to select people from Beijing schools, because New Oriental's headquarters is in Beijing. At present, the recruitment plan has not been fully implemented, and live broadcasting is also a better direction.
There is no problem for teachers to do live streaming with goods, and New Oriental teachers are very able to speak, because they will drive the classroom atmosphere and have very good communication with parents and students. What you can't say, may be eliminated in the continuation of the class, it can be said that New Oriental teachers are social, do live broadcast, they have a good professional quality in terms of eloquence, as long as they are not afraid of the camera, completely no problem.
I have been learning English in New Oriental before I went abroad, and after studying abroad, I came in to work, and many teachers of New Oriental used to be students here. The first campus in Wuhan was in the water intake building, when many people were willing to ride a long distance to New Oriental for classes. It still has a good conscience in doing education. After learning about the double reduction policy, I did not panic, thinking at the time that if this policy came down, the last to collapse must be New Oriental, and it would last to the end.
(The interviewees in this article are pseudonyms)
Wuhan Morning Post reporter Li Muxi