Thinkific

Letter to the Thinkific Team

Mar 29, 2022

To the Thinkific Team,

At Thinkific, the power of what we have built goes far beyond the success of our platform and Creators. So much of it comes from our amazing team, kind, empathetic and results-driven culture, and the deep connections and friendships we all share.

That is why I am coming to you today with a heavy heart. I have made the very difficult decision to reduce the size of the Thinkific team. I know this is sad news and is hard for all of you to hear.

I also know that this information is a lot to take in. However, we wanted to make sure that we provided a single transparent, company-wide update that addresses all the changes. I will share as many details as I can about how we arrived at this decision, what we will do for the team members who are leaving, and what the next steps will be for everyone.

We have always been deeply committed to the success of our Creators. In 2020, as growth in our creator base and business accelerated, so did the growth in our team. This continued into last year. However, as we further reviewed our strategic plans moving into 2022, while we remain on track, we determined that our current costs were outpacing the needs of our stated growth objectives. Essentially, we were not operating as efficiently as we should be.

Out of our 499 employees, 100, or 20% of our team, will be leaving the company. We did not make this decision lightly. We undertook a detailed and thorough process, guided by our core values. We reviewed our entire organization and more directly aligned teams, functions, and roles across the company with what is fundamental to the future of Thinkific and our mission to support our Creators.

It is incredibly important to understand that these decisions are not a reflection of your work quality. Exceptional people will be leaving the company. This is about optimizing our organizational structure to best position Thinkific for continued future success. With a commitment to both top-line growth and a path to profitability, this decision enables a more cost efficient structure for our business.

We are deeply committed to taking care of the members of our team that are leaving. We will treat everyone with kindness, respect and compassion. Here are some of the ways we are helping those that are leaving, and we will be meeting with each person one-on-one to discuss as well as providing more details to you on each of these in writing later today.

Termination Pay - In lieu of notice, we will be paying termination pay, ensuring that everyone receives a minimum of 12 weeks. This will be paid to you along with any vacation pay owed to you (for unused, accrued vacation time) via direct deposit within 5 business days, the details of which will be provided in your letter.
Benefits for you and your loved ones - We are extending your health benefits coverage for 12 weeks beyond your last day with Thinkific. This includes health and dental coverage, and access to LifeWorks (our Employee and Family Assistance Program) for services like counselling and other helpful resources. To note: life insurance, AD&D, long term disability and out of province coverage are limited by our benefits provider to the government-regulated notice period, which will be less than 12 weeks in most cases.
Equipment - Your Work from Home setup including any furniture, peripherals, and devices purchased for you through our previous “Bring Your Own Device” / Hardware Bonus program are now yours to keep. We hope this helps you on the next stop in your journey.
Career Support - While it might not be top of mind right this minute, we also want to give you additional support when it comes to finding your next opportunity. We know many companies out there are going to be lucky to have you on their team. Thinkific will provide you with comprehensive career transition support including access to a career coach, resume and job search tools, and professional services. A career counselor will reach out to you within the next 2 business days.
Departing employees can opt-in to a list that will be shared with potential employers - We will also be circulating a list of “Thinkers for Hire” to recruiters and other companies who are looking to make placements. If you would like to opt into this list, the instructions will be in your letter. You’ll soon be able to see the public-facing page at https://get.thinkific.com/thinkersforhire

Our guiding principles for how we communicated and rolled out this change are:

Taking care of impacted team members
Continuing our commitment to diversity
Being as clear and transparent as possible
Moving quickly and communicating details only when finalized in order to minimize anxiety
Meeting 1:1 with each person who will be leaving

Here is what will happen today and this week:

At 1:30pm Pacific Time, I hosted an all-hands meeting where I explained our decision and filled you in on the logistics of today. Immediately following that meeting, anyone who is leaving received a calendar invite to meet with and discuss details with a departmental senior leader.

The final day for departing team members will be March 31st. We felt this would give people time to say goodbye — we understand and respect how important this is.

For everyone staying, you will receive an invite today to an all hands meeting tomorrow (Wednesday) morning to create an opportunity for your questions.

Over the next few days you’ll be meeting with your teams to discuss next steps. And very soon we’ll be getting together as teams in person.

To those leaving Thinkific.

I am sorry. This is not your fault. You and your contributions to Thinkific are greatly appreciated and valued. I know you are exceptional individuals and other companies will be lucky to have you on their teams. While your time on this team has come to an end, the friendships you made and your contributions to our culture, customers and mission will live on.

To those staying

This is an unexpected change, but we are resilient and we will get through this together. I am confident in our continued opportunities to grow the business and further empower our Creators.

We will discuss how we move forward in greater detail. However, I want to give everyone time to process today’s announcement. Tomorrow, I will host another all-hands to share more about our future and provide space for you to ask questions.

Right now, I ask that you take time to acknowledge the impact those leaving have had on each of us and our Creators. We've learned so much from them over their time here. For that, I know we are all immensely appreciative. Our mission to help Creators is clear, and the contributions of our friends who are leaving will continue through you.

As I’ve shared before, at the core of Thinkific we are about helping people achieve their dreams. You should each be proud of all we have accomplished. Each of you has played a role in getting us to where we are today as well as in our future. Please don’t ever forget that.

Sincerely,

Greg Smith

CEO, Co-Founder, Thinkific