Today, we will be talking about a topic that has been buzzing in the educational sector: ‘Follett Layoffs.’ Now, the term ‘layoff’ often brings a chill, doesn’t it? It brings up images of uncertain futures and anxious families. But before we get caught up in the whirlwind of speculation, let’s set the record straight.

Even though there have been rumors lately about Follett layoffs, the reality is that in 2023, Follett is not cutting down its workforce. So, if you’re hearing these rumors, remember they’re just echoes of the past, not the present.

Now, let’s take a deeper dive into the subject to see what’s really happening behind the scenes at Follett Corporation, a name synonymous with education and learning.

A Closer Look at Follett Corporation

Follett‘s story begins in 1873, in Wheaton, Illinois, with Charles M. Barnes opening a humble used book store. This modest start blossomed into Follett Corporation, a leading provider of educational products to schools and public libraries.

Over the years, Follett has morphed through mergers and rebrandings, finally donning the Follett Corporation mantle in 1957. This transformation wasn’t just about expanding services; it was about evolving with the times – from a simple bookseller to an educational powerhouse.

What makes Follett stand out? It has a rich history, evolving from a used book wholesaler to a key provider of educational materials. Despite the occasional layoffs, which hit many by surprise due to the company’s impressive growth and adaptation, Follett continues to be a major player in the educational field.

Follett Layoffs 2023 – Is Follett Laying Off?

Now, let’s talk about layoffs. Follett has had its share of workforce reductions in the past. Take 2013, for example, when the Follett Higher Education Group had to make a tough decision, leading to around 570 full-time employees being laid off. It was a strategic move, aligning with changing student shopping trends and aiming for flexible staffing.

But here’s the deal for 2023: Follett isn’t laying off employees. Instead, they’re steering the ship with stability and focus, showing how resilient and adaptable the company has grown over the years.

So, if you are a worker at Follett Corporation and the rumor about the circulating Follett layoffs speculation is causing concerns in your heart, just rest. Your dear company is not laying off employees presently. And as of the time of writing this post, there is no official statement from the company showing any layoffs in the pipeline for the year.

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Reasons for Follett Layoffs

Follett Layoffs
Follett Layoffs

So, why did Follett downsize in the past? It was a mix of adapting to customer needs and shifting operational strategies. With a whopping $200 million investment in technology and digital content, Follett was reshaping its business model. This meant saying goodbye to some full-time roles to match new shopping behaviors.

These layoffs weren’t just numbers on a spreadsheet; they affected real people. Employees faced the daunting task of finding new jobs in a tough market. But Follett didn’t turn a blind eye. They offered severance packages and part-time positions to soften the blow.

What is Presently Happening with Follett?

Now, for Follett fans, it’s okay to want to know what your favorite company is going through presently. Even though the company has suffered some layoffs and transformations in the past, fast forward to 2023, the company seems to be doing pretty great.

They’re tweaking their bookstore labor strategies to better serve customers. This shows how much commitment the company has to staying relevant and customer-focused.

Plus, there’s exciting news: Follett was recently acquired in 2022, marking a new chapter in its saga. This acquisition isn’t just a change of ownership; it’s a leap into a future filled with possibilities.

Follett Corp Partnered with GreenLight for Postsecondary Equity

Speaking of leaps, let’s talk about Follett’s partnership with GreenLight Credentials. In May 2023, Follett Higher Education teamed up with GreenLight, a company known for using blockchain tech to verify educational credentials.

This partnership is going to be a game-changer as it will make life much easier for students and educational institutions. Students will now have more control over their academic records and smoother transitions into the workforce.

GreenLight’s platform means less hassle for college applications and job hunting, plus it levels the playing field for students from different backgrounds.

Who are Follett’s Top Competitors?

Every great story has a cast of rivals, and Follett’s is no different. The company has operated in a highly competitive environment amidst fierce competitors like:

  •  Franklin Mint

Think of Franklin Mint as the innovative underdog. They’ve carved out a niche in the collectibles market, but it’s their venture into educational materials that’s really interesting.

Generating around $7.2 million in revenue, they’ve managed to blend education with collectibles, creating a unique approach that challenges Follett’s traditional educational products. This isn’t just competition; it’s a creative twist on learning resources.

  • Macmillan

Here’s a heavyweight in the publishing ring. With a staggering $1.4 billion in revenue, Macmillan is a global force to reckon with. They’re not just about books; they’ve got a vast array of academic materials and digital resources.

Macmillan has a broad catalog that caters to a wide range of educational needs, coupled with a global footprint. This makes Macmillan a tough competitor, especially in areas where Follett has traditionally held sway.

  • Chronicle Books

Chronicle Books is like that cool indie bookstore everyone loves but on a larger scale. With $75 million in revenue and a 100-strong team, they’ve made a name for themselves through innovative and artistic publishing.

Based in San Francisco, Chronicle Books is known for its beautifully designed books, gifts, and stationery. They’ve managed to create a niche market by combining quality content with aesthetic appeal, making them a unique player in a field often dominated by more traditional educational content providers like Follett.

  • Scholastic

No list of educational competitors would be complete without Scholastic. With a whopping $1.6 billion in revenue and 8,900 employees, Scholastic is a titan in children’s literature and education. They’re known globally, not just for their books but also for their educational programs and digital resources.

Scholastic has a special place in the hearts of many, thanks to its significant impact on children’s literature. They directly compete with Follett in school and library markets, offering a diverse range of products that challenge Follett’s dominance.

Follett Layoffs 2023 – Final Note

So, there you have it about the recent rumor about Follett Layoffs. While the company has seen its share of ups and downs, including layoffs, the current state of affairs is stable and forward-looking. The company is not presently laying off.

Follett Corporation’s growth and resilience over the years have been very encouraging. If you are presently concerned about the future of the company, you just rest your mind – this is a company that is presently doing well despite its layoff history.

FAQs

Is Follett Facing Financial Challenges?

As of 2023, there’s no public information suggesting that Follett is facing significant financial challenges. In fact, the lack of ongoing layoffs and the company’s recent acquisition point towards a period of stability and growth.

However, like any large organization, Follett may face routine financial pressures typical in the competitive landscape of educational products and services.

What Does Follett Sell?

Follett offers a diverse range of products and services primarily focused on the educational sector. Their offerings include:

  • Content Solutions: This encompasses a wide variety of library and classroom products, along with a focus on spotlighting publishers.
  • Software Solutions: Follett provides a suite of software solutions tailored for educational purposes, including the Destiny Suite, Accessit Library, Aspen Student Information System, Follett App Store, Classroom Library Manager, and cloud hosting services.
  • Services: In addition to products, Follett offers a range of services aimed at supporting educational institutions, including course material management, technology solutions, retail services, athletic supplies, and more.

How Many Locations Does Follett Have?

Follett operates in a vast network of locations. Specifically, they serve more than 1,000 campuses across North America. This extensive presence shows Follett’s significant role in the educational sector. The company provides services and products to a wide range of educational institutions, from K-12 schools to higher education campuses.

Is Follett a Good Company to Work for?

The perception of Follett as a workplace can vary depending on individual experiences and expectations. As of the time of writing this post, Follett has an average employee satisfaction rating of 3.0 out of 5, with about 34% of employees recommending the company.

This suggests a mixed reception among its workforce. While there are certainly areas for improvement, the slight increase in employee satisfaction ratings over recent years indicates that Follett may be taking steps to enhance its work environment. 

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