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<ul><li><keyword id="335232" type="General" weightage="100" keywordseo="guild" source="Orion">Guild</keyword> has announced to lay off 172 employees, or 12 per cent of its workforce.</li><li>Guild CEO <keyword id="17547649" type="General" weightage="50" keywordseo="rachel-romer" source="Orion">Rachel Romer</keyword> told employees in an email that layoffs were "incredibly painful" but necessary to ensure the company's long-term success, reports layoffstracker.com.</li></ul>San Francisco, Woman founder-led edtech unicorn Guild has announced to lay off 172 employees, or 12 per cent of its workforce, as part of a broader reorganisation for long-term growth. Guild CEO Rachel Romer told employees in an email that layoffs were "incredibly painful" but necessary to ensure the company's long-term success, reports layoffstracker.com. The company had "identified the go-forward structure, roles, and skill sets needed to enable our strategy and create a more focused, seamless way of doing work at Guild," she told the staff. Those impacted will receive 12 weeks of severance pay, with an additional week of pay for each full year of service at the company. Moreover, they will also get medical, dental, and vision coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA) for up to 18 months, with Guild covering the premiums for the first six months. Denver, Colorado-based Guild has extended the equity exercise period by two years, allowing employees to continue accessing the company's upskilling programmes, said the report. Those impacted will also retain access to the <keyword id="678788" type="General" weightage="50" keywordseo="beehive" source="Orion">Beehive</keyword>, Guild's subsidised childcare programme. The company raised over $200 million in funding and was valued at $4.4 billion in 2022. The edtech platform received the unicorn status in 2019. Last year, Guild secured a $175 million Series F financing round, which included investment from <keyword id="20411" type="General" weightage="50" keywordseo="oprah-winfrey" source="Orion">Oprah Winfrey</keyword>. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/samsung-galaxy-a34-5g-review-a-mid-range-marvel/articleshow/100564038.cms">Samsung Galaxy A34 5G review: A Mid-range marvel</a> <a href="https://www.businessinsider.in/tech/news/google-opens-ai-search-experiment-to-selected-users-for-testing-heres-how-you-can-sign-up/articleshow/100519280.cms">Google opens AI search experiment to selected users for testing - here’s how you can sign up</a>

Woman-led edtech unicorn Guild lays off 172 employees

Guild EducationGuild Education CEO Rachel Carlson co-penned an open letter calling for business leaders to help contain the spread of coronavirus<ul class="summary-list"><li>More than 450 business leaders, investors, and public figures have signed an open letter committing to "lead boldly" in stopping the spread of the <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1">coronavirus pandemic</a> across the United States, as of Sunday afternoon. </li><li>The letter says that business leaders can be critical to determining the pace at which the coronavirus outbreak spreads throughout the country, and asks that signatories take a series of actions including sending employees to work from home. </li><li>"CEOs today have enormous influence in creating social influence in a positive way," Guild Education CEO Rachel Carlson told Business Insider, explaining why she co-penned the letter with Ken Chenault, the managing partner of General Catalyst. </li><li><a href="https://medium.com/@rachel.romer.carlson/leading-boldly-on-covid-19-b23ecb2f5093">Read the full letter here.</a></li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>More than 450 business CEOs and investors have signed an open letter calling for the US private sector to lead the fight in halting the spread of the coronavirus pandemic. The letter asks business executives to take "bold leadership" in fighting COVID-19, the disease caused by coronavirus, by sending employees to work from home, supporting frontline workers who need to work through the crisis, and asking employees to avoid hosting and attending large public events."Part of what inspired us to write the letter was to support the 3 million Americans who work at the frontlines, like pharmacies and grocery stores, which can't or won't be able to close. We want to protect that group," Carlson told Business Insider in an interview. "The best thing we can all do for that workforce is to stay home." The letter was published on Saturday evening by Rachel Romer Carlson, the CEO of the ed-tech unicorn Guild Education, and Ken Chenault, the chairperson at the VC General Catalyst. It quickly took off on social media, spreading through the hashtag #StoptheSpread.The letter, which is aimed at the entirety of the US private sector, has quickly racked up a list of well-known tech executives including Zoom CEO Eric Yuan, Lambda School CEO Austen Allred, and partners at the VC firms Accel and Insight Partners. NBA star Stephen Curry also signed on to the list and <a href="https://twitter.com/StephenCurry30/status/1239303823367143424?s=20">tweeted</a> in support of it. Carlson said that she and the letter's co-author Chenault, who is also the former CEO of American Express, shared a joint belief in "stakeholder rather than shareholder capitalism," which prompted them to pen the letter. "CEOs today have enormous influence in creating social influence in a positive way," Carlson explained. "In this particular instance, the opportunity for CEOs to create that social change and galvanize leaders to respond to COVID-19 was huge." <h2>Taking action "faster than this virus" </h2>COVID-19, the disease caused by the coronavirus, has swept across the world over the past few weeks. As of Sunday, <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1">more than 160,000 people have been infected and over 6,000 have died</a>. The US reported <a href="https://www.businessinsider.com/wuhan-coronavirus-us-cases-health-risk-2020-1">62 coronavirus deaths among over 3,200 cases</a>. But, as the letter points out, government actions have not been enough to deter people from going out. "In the US, we've sent college kids home but New York bars are packed; we are working from home, but malls and resorts are full; while our health care leaders are encouraging the avoidance of group events, too many are still showing up: 14,000 fans attended a concert at the Pepsi Center in Denver on Thursday," the letter says. In addition to the series of commitments that the letter asks business leaders make, the statement also recommends actions like supporting small business owners by purchasing gift cards to be redeemed at a later time, and helping grocery, healthcare and pharmacy workers in whatever way possible (Carlson said that Guild Education was working with its academic partners to come up with training and resource guides for them). Carlson and Chenault wrote that the goal of the letter, which they hope will "spread faster than this virus," is to help contain the outbreak so it can be resolved in 1-2 months rather than in the long-term. <a href="https://medium.com/@rachel.romer.carlson/leading-boldly-on-covid-19-b23ecb2f5093">You can read the full letter here. </a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/bidets-better-than-using-just-toilet-paper-2019-9">Why bidets are better than buying countless rolls of toilet paper</a></h3>

#StoptheSpread: Hundreds of business leaders and investors signed a commitment to help stop the spread of the coronavirus pandemic.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Hero Images/Getty ImagesSome millennial couples are choosing a mortgage before marriage.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/millennials" target="_blank" rel="noopener">Unmarried millennial couples</a> are <a href="https://www.businessinsider.com/category/your-money-home" target="_blank" rel="noopener">buying homes</a> together, prioritizing homeownership over marriage.</li><li>This trend is a result of <a href="https://www.businessinsider.com/how-millennials-gen-x-and-baby-boomers-approach-marriage-2017-11" target="_blank" rel="noopener">economic conditions</a> and a <a href="https://www.businessinsider.com/how-millennials-gen-x-and-baby-boomers-approach-marriage-2017-11" target="_blank" rel="noopener">shift in attitudes toward marriage</a> - and reflects how different <a href="https://www.businessinsider.com/millennials-habits-different-from-baby-boomers-2018-3" target="_blank" rel="noopener">millennials are from their parents</a>.</li><li>But buying a home as an unmarried couple can have legal and financial risks if not planned for properly.</li></ul>When it came to life milestones, Jessica Booth didn't do things the "traditional" way. One year before getting engaged, <a href="https://www.thisisinsider.com/how-to-buy-a-house-2018-6" target="_blank" rel="noopener">Booth purchased a house</a> on Long Island with her boyfriend."When we bought the house, we really wanted to move in together, but my husband did not want to get an apartment because he didn't want to pay rent toward something he didn't own," Booth told Business Insider. "He was set on getting a house, and it was something I wanted to do with him as well."She added: "We definitely got a lot of comments about how it was potentially a bad decision, but we knew it was right for us."Booth was one of three of the <a href="https://www.businessinsider.com/millennials-wealth-generation-experts-data-2019-1" target="_blank" rel="noopener">millennials</a> we spoke to for <a href="https://www.businessinsider.com/millennials-buying-first-house-tips-advice-2019-1" target="_blank" rel="noopener">an article about 20-something homeowners</a> who bought a home with their partner before tying the knot - and they're not the only <a href="https://www.businessinsider.com/category/early-retirement" target="_blank" rel="noopener">millennials</a> to prioritize a mortgage before marriage.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy of Jessica BoothJessica Booth bought a house with her significant other before getting engaged.</div></div></div> Unmarried millennial couples buying a home together has become more prevalent, Daniel Gershburg, partner at real-estate law firm Romer Debbas LLP, told Business Insider. <a href="https://blog.coldwellbanker.com/wp-content/uploads/2013/04/April2013ColdwellBankerMarriageSurveyResults.pdf" target="_blank" rel="noopener">According to a Coldwell Banker Marriage and Homebuying Study</a>, a quarter of American millennials purchased their home with their current spouse before getting hitched. With previous generations typically putting the ring before the house, this millennial behavior may seem backward. But when you look at how generational norms are changing, it appears to be a response to a change in attitude about marriage and higher costs of living.<h2>Millennials view cohabitation and marriage differently than other generations</h2>More <a href="https://www.businessinsider.com/biggest-financial-problems-for-millennials-2018-8" target="_blank" rel="noopener">millennials</a> are cohabitating before marriage - a sixfold increase from their parents' generation, reported <a href="https://www.thisisinsider.com/millennial-marriage-divorce-rate-2016-09" target="_blank" rel="noopener">INSIDER's Kim Renfro</a>, citing data analyzed by sociologist Wendy Manning at the <a href="https://www.bgsu.edu/ncfmr.html" target="_blank" rel="noopener">National Center for Family and Marriage Research</a>. And millennials are also <a href="https://www.theatlantic.com/business/archive/2015/06/millennials-delaying-marriage-money-weddings/395870/" target="_blank" rel="noopener">waiting longer</a> to get married, she reported.While there are still <a href="https://www.businessinsider.com/millennials-rely-on-parents-money-housing-2018-6" target="_blank" rel="noopener">millennial</a> couples who do things like their parents' generation, "marriage rates are declining - millennials are finding marriage less important than it used to be," Rachel Sussman, psychotherapist and relationship expert at <a href="https://www.sussmancounseling.com/" target="_blank" rel="noopener">Sussman Counseling</a>, told Business Insider. "Couples living together in a home they purchased or in a rental are focused on being in the here and now."But delaying marriage doesn't mean couples want to delay homebuying, especially if they discuss marriage and engagement before getting a house, as in Booth's case. "We also wanted to plan a wedding without having to worry about finding a house or a place to live around the same time," Booth said. "It made sense financially, and it was something we were both comfortable with doing first."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Barcroft Media/Getty ImagesMillennials are delaying marriage, but place a lot of importance on homeownership.</div></div></div>Weddings aren't just stressful to plan, but expensive, costing $33,391 on average in the US, according to <a href="https://xogroupinc.com/press-releases/the-knot-2017-real-weddings-study-wedding-spend/" target="_blank" rel="noopener">The Knot's 2017 Real Weddings Study</a>."Living in St. Louis, the cost of a 15% to 20% down payment on a reasonable starter home is about the same as a wedding," Thomas O'Shaughnessy, who bought a home with his girlfriend of five years, told Business Insider. "We plan on staying together forever and buying a home seemed like a much better financial investment than a wedding," O'Shaughnessy, 26, said. "Plus, now we get to save for a bada-- wedding instead of having to scrape something together when we're young and poor."Read more: <a href="https://www.businessinsider.com/how-millennials-gen-x-and-baby-boomers-approach-marriage-2017-11" target="_blank" rel="noopener">9 ways millennials are approaching marriage differently from their parents</a><h2>Higher housing prices make splitting a mortgage favorable</h2>Marriage is also taking a backseat as homeownership takes on more significance in millennials' lives. According to a report by <a href="https://listwithclever.com/real-estate-blog/millennial-home-buyer-report/" target="_blank" rel="noopener">Clever Real Estate</a>, 84% of American millennials think owning a home is a crucial part of the American Dream. And homeownership is more important than other major life goals and events, like getting married and having children, to nearly three-fourths of millennials surveyed in a <a href="https://info.bankofamerica.com/homebuyers-report/" target="_blank" rel="noopener">2018 Bank of America study</a>.But homes are 39% more expensive than they were nearly 40 years ago, <a href="https://studentloanhero.com/featured/millennials-have-better-worse-than-generations-past/" target="_blank" rel="noopener">according to Student Loan Hero</a>, meaning that some <a href="https://www.businessinsider.com/millennials-cost-of-living-compared-to-gen-x-baby-boomers-2018-5#millennials-are-saving-more-money-for-a-longer-time-to-become-homeowners-1" target="_blank" rel="noopener">millennials need to save longer to buy homes</a>. But with many millennials eager to take on homeownership, they don't want to delay the process. Buying with a partner, regardless of marital status, can put millennials on a fast track to homeownership - splitting costs requires less individual savings. When coupled with expenses like <a href="https://www.businessinsider.com/millennials-cost-of-living-compared-to-gen-x-baby-boomers-2018-5#millennial-parents-pay-more-for-childcare-than-their-parents-did-5" target="_blank" rel="noopener">pricier health insurance premiums</a> and <a href="https://www.businessinsider.com/why-is-college-so-expensive-2018-4" target="_blank" rel="noopener">record levels of student loan debt</a>, it's easier to share a mortgage and down payment with someone else.<a href="https://www.businessinsider.com/millennials-cost-of-living-compared-to-gen-x-baby-boomers-2018-5#millennials-face-soaring-rents-2" target="_blank" rel="noopener">Rents are also on the climb</a>, and some, like Booth's now-husband, consider it money thrown down the drain - they consider the house to be an investment.The trend isn't just reflective of economic conditions and shift in attitude, but of how millennials approach their finances. "To me, this says millennials are willing to take on more risk with their finances and they are looking for more tangible investments," Ashley Dixon, CFP at <a href="https://genyplanning.com/" target="_blank" rel="noopener">Gen Y Planning</a>, told Business Insider.Read more: <a href="https://www.businessinsider.com/millennials-cost-of-living-compared-to-gen-x-baby-boomers-2018-5" target="_blank" rel="noopener">7 ways life is more expensive today for American millennials than previous generations</a><h2>Buying a home as an unmarried couple has legal and financial risks</h2>Homebuying isn't something to be taken lightly, especially when it's done with someone to whom you're not legally bound. While Booth and Thomas both had eventual marriage in mind, not all unmarried homebuyers get a happily ever after - and their bank accounts may suffer as a result. And with financial pitfalls come legal risks.If the relationship dissolves, there could be mortgage and legal fees associated with removing a person from the mortgage or home deed, Dixon said. If you sell the home, it's likely you'd split the loss, she added."Laws help married couples divvy up property after they've split up, but there's a lot of legal grey area around those who are unmarried," Ben Mizes, former real-estate investor and cofounder of <a href="https://listwithclever.com/" target="_blank" rel="noopener">Clever Real Estate</a> told Business Insider. "I recommend involving a lawyer and drawing up a contract that spells out what will happen in the event of a breakup," he said. "It's not exactly romantic, but it can save serious headaches down the road for both parties."<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP Photo/Gregory BullWith legal grey areas and financial pitfalls, unmarried couples need to properly plan for joint homeownership.</div></div></div><a href="https://www.bankrate.com/mortgages/questions-unmarried-couples-should-ask-before-buying-house/" target="_blank" rel="noopener">According to Natalie Campisi of Bankrate</a>, unmarried couples are seen as individuals in the court's eyes. "It's up to the couple to write their own rules that will dictate how their property is handled in the event of separation or death," she wrote. "This cohabitation property agreement should include rules for how the property will be divided, buyouts, exit strategies, and the dispute process. You can also stipulate what percentage of the property each party owns."Keep in mind that real-estate laws also vary by state, from holding titles to offering buyout provisions, in which you can agree to buy the other person out of the house at market value after a certain period of time, Gershburg said.He recommends sitting down at a long dinner to discuss the practicalities and finances involved. Ask yourselves, "In the event of a breakup, does the house automatically get sold? What if I get laid off? If we want to rent it out, do we agree as to how much it is? How do they recoup the amounts that we put forth?"This will cost you less in the long run, he said, and going in with an open mind can dissuade you from buying a home altogether or help you prepare for the worst.Read more: <a href="https://www.businessinsider.com/millennials-buying-first-house-tips-advice-2019-1" target="_blank" rel="noopener">5 millennials who became homeowners in their 20s share their best advice for buying your first house</a>He also recommends seeing an estate lawyer for an estate agreement. "Everyone should have a will; the process is so much more complicated if you don't have one," he said. "If you're not married, you want to cover as many bases as you can."He added: "You need a team to button up all of these things - and you need to do this before identifying properties."But it's not just finances on the line - there are also emotions.As Sussman puts it, "Breaking up is very hard, and there's a chance if one person wants to break up and the other person doesn't, it's going to be very painful, and it's going to be harder to untangle if they own a home." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-its-like-to-do-your-own-taxes-for-the-very-first-time-2018-2">What it's like to do your own taxes for the very first time</a></h3> <div> </div> </div>

Millennial couples buying homes before they get married are making a risky move that shows how different they really are from their parents

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Woman-led edtech unicorn Guild lays off 172 employees

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#StoptheSpread: Hundreds of business leaders and investors signed a commitment to help stop the spread of the coronavirus pandemic.

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Millennial couples buying homes before they get married are making a risky move that shows how different they really are from their parents

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