About an hour ago we held a company All Hands where I announced that we are laying off 65 Lambda School employees as part of a restructuring. I started Lambda School to create jobs and opportunity, which made the decision to make these changes very difficult. We will be saying goodbye to many incredibly talented friends and colleagues, and today will be even more difficult for them.
We're trying to do something that hasn't been done before – prove that an accessible, incentive-aligned education model can work sustainably for all students willing to put in the work. Lambda pioneered the income share agreement (ISA) in the career and technical education space, and we're now watching many of the schools who followed us abandon their ISA offerings because they believe it's impossible to make this model work.
We strongly disagree. In fact, many things at Lambda School are working very well, and we believe we're on the path to proving this model successful and sustainable. We have a few remaining operational challenges to work out, and today's restructuring and right-sizing are a part of creating the time and space to address those challenges and build the future.
We've been very careful to minimize impact on our current students and alumni. As always, we will continue making iterative changes in our programs, but we've made every effort to ensure continuity and reinforce our commitment to helping every student on their path to a new career in technology.
One immediate change, however, is that we are pausing new enrollment in our part-time programs. Hundreds of graduates from our part-time programs have already landed great new jobs in tech, but we want to redesign the program to be more flexible and accessible. Given the restructuring and smaller team, we need to ensure we can give every current student — full-time and part-time — the best Lambda experience through the rest of their program and job search. We will continue to enroll students into our full-time programs as scheduled.
As a team, we will spend the rest of today processing the changes, saying goodbye to some of our best friends and valued colleagues, and supporting our staff, students, and alumni through this hard time. We will be assisting our departing staff in a number of ways, including strong job search support to find their next opportunity. For employers looking to hire senior product, engineering, design, community management, or instructional staff, we'll be sharing a list of interested staff looking for their next opportunity on social media. Please help us find them a great next opportunity.
Despite these changes, our mission remains the same. As we move forward, we will continue to focus on unlocking opportunity, regardless of circumstance, for everyone willing to put in the work.