New York, New York-based Section4, a start-up educational technology company producing college-level virtual instructional materials democratizing elite business school education, announces a major reorganization to refocus the company's educational services from individuals to corporate entities.
The reorganization resulted in a reduction of force that targeted 25% of the workforce, mainly product teams.
The decision appears to be driven by a revenue shortfall and the company's two- to three-week courses using prominent professors from elite schools were more costly than anticipated. Offerings from free online courses produced by the elite colleges themselves remain a significant competitive factor.
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