As companies downsize in response to the coronavirus pandemic, Denver's Guild Education has committed to a no-layoff pledge for the next three months.
The company, which has more than 550 employees, joined a movement started by Salesforce CEO Marc Benioff last week which encouraged CEOs to hold off on layoffs for at least 90 days.
"At Guild we are fortunate to be in a position that enables us to make this pledge to our employees and our community. However, we know that many other businesses don't have the same privilege and ability to do the same. So, while we urge those in a similar position to make this pledge, we recognize and understand that many organizations must make difficult decisions guided by their own situations," Suzanne Stoller, chief people officer at Guild Education, said in a statement. "Our commitment to supporting America's workforce has never been stronger, which is why we will be partnering with leading universities and learning providers to provide an innovative solution to assist furloughed and laid off workers in this time of need."
Guild works with large companies, including Walmart and Chipotle, to offer debt-free education as a company benefit.
In addition to pledging no layoffs, the company is increasing its efforts to provide upskilling and outskilling opportunities to assist workers who have been laid off by their employers.
Guild is working with universities and learning partners across the country to offer laid off or furloughed employees the ability to engage in skills-based training to advance towards a higher skilled job. The company said details of these partnerships will be made available in the coming week.
In November, Guild closed a $157 million Series D round that vaulted it into unicorn status. The round was led by General Catalyst’s Ken Chenault, former chairman and CEO of American Express, who joined Guild’s board.
The round established Guild, now valued at $1 billion, as one of a few female-led companies to earn the unicorn valuation in 2019.
