Login

Corinthian Colleges Inc. Layoffs

Messages relating to layoffs at Corinthian Colleges Inc. are presented below the company info.

Corinthian Colleges Inc.

Company information:

Industry/Area of Activity:
Specialty Retailers & Services
Company Stock Ticker:
COCO
Stock traded at:
NASDAQ
Industry Code:
5377

Comment! It's anonymous! Post information you know, rumors you heard, your experiences, or contribute to the discussion by answering or asking about layoffs at Corinthian Colleges Inc.. The comment form is located near the bottom of the page.

Posts regarding layoffs at Corinthian Colleges Inc.

Go to thread Anonymous41384, Tuesday 09/30/14 13:34:12 UTC

What's the next deadline?

So what is the next actual step? Is there an actual deadline for a buyer to acquire CCI? Is that just before the end of the year? Ultimately how long will we all sit around for a company that's hemorrhaging money waiting for someone to buy?
Reply to this post | This thread: 6 views | No replies yet
Go to thread Anonymous41380, Tuesday 09/30/14 11:45:20 UTC

Article: Corinthian Sale Not So Easy

http://www.educationdive.com/news/corinthian-sale-not-so-easy/313978/#.VCqXhXSAFfw.mailto
Reply to this post | This thread: 13 views | No replies yet
Go to thread Anonymous41369, Tuesday 09/30/14 05:30:01 UTC

What I've been told

ECMC will purchase select profitable, compliant Everest campuses, to be announced in Nov. as non profit status. Everest brand will be eliminated, new brand announced at a later date. SOCLE will handle FA transactions for ECMC newly purchased campuses. Another round of furloughs to be expected in Oct. One more round of middle management (RDOA, RAVP, RVP) layoffs in Oct. Remaining Faculty, Admissions Reps, F/A will stay in tact. Management will be disbursed slowly, until new management is hired and trained by ECMC practices. Career Services stays intact at a reduced staff until all current students graduate and are placed. Heald will be involved in a merger to be announced in Oct. I haven't been informed on Wyotech.
Reply to this post | This thread: 297 views | 6 replies
Go to thread Anonymous41362, Tuesday 09/30/14 03:35:04 UTC

For Profits are failing left and right

Yet some feel that someone will buy CCI even if on the cheap and aquire all these employees when cuts are taking place almost everywhere. Hmmm. Doesn't seem realistic
Reply to this post | This thread: 69 views | 1 reply
Go to thread Anonymous41355, Tuesday 09/30/14 02:40:41 UTC

Now they claim EDMC is going to buy EUO Tmp,FL

The cuts keep happening at Education Management Corp. The for-profit education company announced 170 layoffs throughout the organization on Thursday, two days after it cut 80 workers in Green Tree and the Strip District. Of the 250 total job losses this week, 110 people in Pittsburgh were affected, the company said. The cuts are part of the Downtown-based company's efforts to control costs as it battles declining enrollments and profits. “It is part of the efforts to offer students a great learning experience while keeping education affordable,” EDMC spokesman Chris Hardman said. Hardman declined to discuss whether additional layoffs were coming. Since last year, the company has slashed more than 600 workers nationwide, nearly half of them in Pittsburgh. EDMC had 23,000 employees as of last summer, with 2,000 in Pittsburgh, and serves 125,000 students across 110 campuses, according to its 2013 annual report. EDMC is headed for a third consecutive year of revenue declines and struggling under $1.3 billion in debt. It is a defendant in a federal lawsuit accusing EDMC of paying recruiters according to the number of students they enrolled, violating federal law, and stands to lose hundreds of millions of dollars if a judge rules against it. Other for-profit education companies are struggling. University of Phoenix and Corinthian Colleges have faced similar allegations of improper recruiting and marketing practices. Corinthian said it may have to shut down, because the Education Department restricted access to federal funds over concerns about its marketing. The company has since reached a deal with regulators to keep operating while it sells and closes some schools. Trace Urdan, an analyst at Wells Fargo Securities, said Corinthian did not act quickly enough to cut costs, a lesson that EDMC appears to have learned. “What you see is Education Management doing something that Corinthian never did do,” Urdan said. “I think Education Management is a much better operated company — and the cost cuts, they can't afford to wait any longer on those, unfortunately.”
Reply to this post | This thread: 99 views | 2 replies
Go to thread Anonymous41319, Monday 09/29/14 23:41:22 UTC

We will be OK!

CCI will get bought and we will all keep our jobs and salaries! Whoo Hoo!Just wait around through Furloughs, pay cuts, Lawsuits, company debt etc. It will be worth it because I'm such a good employee the new buyer will keep me of course
Reply to this post | This thread: 319 views | 6 replies
Go to thread Anonymous41311, Monday 09/29/14 22:28:17 UTC

This board has jumped the shark.

Reply to this post | This thread: 193 views | 8 replies
Go to thread Anonymous41304, Monday 09/29/14 21:52:55 UTC

I think I figured it out

Apparently all of the "good" employees are now employed by the layoff.com they pay them to sit around in their spiderman underwear and tell us all we are going to lose our jobs. Seriously how many peopple check in here every single day and try rain on anything that me be interprted as as good news. Get out of your mommies basement and go get a real job
Reply to this post | This thread: 105 views | 4 replies
Go to thread Z (3), Monday 09/29/14 21:47:01 UTC

Strange

20 state AGs, 5 federal agencies and 3 criminal investigations and nothing has been proven? So are all the above incompetent or is CCI brilliant? Do not get me wrong, I think most of the accusations are true.
Reply to this post | This thread: 215 views | 5 replies
Go to thread Anonymous41299, Monday 09/29/14 21:44:27 UTC

Imaginary Employment Opportunity

If you had an option to chose where you'd go and work, where would you go and what would you do. Let's assume that you need to have skills for the work you'd be doing (e.g., professional tennis player might only work for small number of us).
Reply to this post | This thread: 62 views | 2 replies
Go to thread Anonymous41278, Monday 09/29/14 20:15:28 UTC

Wow!

Reading some comments earlier that are blaming Obama for the crisis that CCI is in is hilarious! LOL! CCI lied to prospective students about placement rates simple and plain. They have themselves to blame. Get over it CCI has a few weeks left. ENJOY!
Reply to this post | This thread: 81 views | 3 replies
Go to thread Anonymous41260, Monday 09/29/14 19:18:21 UTC

What do employees expect to happen?

I'd like to hear everyone's best case scenario.
Reply to this post | This thread: 447 views | 11 replies
Go to thread Anonymous41259, Monday 09/29/14 19:18:05 UTC

Don't buy into the troll kool-aid, TB FL employees

I don't know what the goal is, but there have been raving lunatics on this board for at least three months (how long I've been dropping by) telling everyone to bail and the sky is falling. If you work in Tampa Bay (mall, etc) you don't need to be in any rush. Our job market is really good right now: http://www.tampabay.com/news/business/workinglife/report-deems-tampa-the-third-best-city-in-the-country-to-find-a-job/2168479. So just take their Chicken Little routine with a grain of salt and ask yourself "Who is this person really? What is their goal in posting this?"
Reply to this post | This thread: 200 views | 8 replies
Go to thread Anonymous41258, Monday 09/29/14 19:15:47 UTC

Can anyone defend CCI and what they do?

Please, if you feel CCI does any good please speak up. All of the allegations are true.
Reply to this post | This thread: 12 views | No replies yet
Go to thread Anonymous41246 (ADMISSIONS ), Monday 09/29/14 18:08:19 UTC

GET RID OF THE DEAD WEIGHT

Get rid of the dead weight like MONICA COX who brags that she makes 85k putting GHETTO students into something they can't finish!! She even calls the job the circus and puts on her fbook that Jack Massamino needs to be fired!!!!! Some of us still want to believe we can do some good!! she is a pathetic excuse for a rep and a human being!!! also JOYCE JACKSON who lied about being on Short term disability to sell real estate and double dip for both jobs!! Both are such a disgrace!!!!!
Reply to this post | This thread: 401 views | 5 replies
Go to thread Anonymous41201, Monday 09/29/14 13:48:14 UTC

COCOnut!!

Let's use CCi's stock symbol - COCO - and "nuts" to describe anyone who actually wants to continue to work here.
Reply to this post | This thread: 79 views | 3 replies
Go to thread Anonymous41200, Monday 09/29/14 13:46:22 UTC

Repost 9/25 first draft. If you work at cci and have not seen it, you should.

Everyone knows that we filed an 8K with the SEC last Friday, September 19. Employees are drawing conclusions based on the delay in communication of my memo on September 25. For those of you who whined about the information vacuum: too bad. I am The Man, which means I don’t have to communicate with you at all. The following information is intended to make you stop asking questions and abandon those ridiculous discussion boards. The bottom line is that there was a delay in securing and disclosing lender agreements described in our 8K. We waited long enough to scare the shit out of DoE, who doesn’t want responsibility for the steaming pile that would be left if they put me out of business. DoE and others helped us convince banks (some that the feds bailed out in 2008) to bail us out of the immediate student loan refund problem. Of course, that’s only fair because it is our turn :) If your little minds are concerned about the latest U.S. Attorneys’ request for documents about naughty behavior in the areas of career placement and financial aid, here’s the deal: We are cooperating and hope this investigation turns up nothing new. The ACCSC warning status is something we can worm our way out of, this business being incestuous and what not, so don’t worry about accreditation. And CFPB still knows we f***ed up, but (even if they can prove it) CFPB is a tired little weakling compared to the army of support I have garnered with others in positions of power. We are still in deep poo. That’s why I furloughed you and that’s why some of you won’t see this memo until days after I sign it. I really do appreciate your patience and bovine obedience to your management. Please continue to do every nonsensical thing they ask. In particular, keep harassing students who want to drop out. They don’t know about the hellish loan repayment schedule that will begin if they drop, so be sure to take every opportunity to tell them about it. This works especially well with single mothers and older students. Loan repayment is one of those legendary pain points we need to hit in every call. Now shut up and get busy
Reply to this post | This thread: 278 views | 3 replies
Go to thread Anonymous41170, Monday 09/29/14 08:35:12 UTC

This is worth a repost (regarding 2nd Amendment)

Anon from Colorado Springs wrote: The original Operating Agreement was signed by all involved parties (CCi, DOE, and all lenders to which we owe money). Then CCi couldn't quite meet the requirements of that agreement so they submitted a First Amendment to the Operating Agreement. All interested parties also signed this amendment, agreeing to the changes that were made. It specifically stated in that first amendment that there was to be NO second amendment; the interested parties did not want any more changes to the operating agreement and CCi better do what they agreed to do. IF CCi did file a second amendment they would be in default and all their Title IV would end. Well, no surprise, Jack Assamino decided to go ahead and file a second amendment anyway because he couldn't live up the agreements he made the other times. When that second amendment was filed (the 8K on the 19th) it did NOT have the signatures of all the lenders/banks. The filing stated that if CCi did not get the signatures by the deadline of the 25th, then they were in default. CCi did indeed get the lenders to agree to this second amendment as well. That's what the filing on the 26th was saying: all signatures were obtained, all partied were in agreement, so CCi is not in default and they can still get their Title IV. Make more sense?
Reply to this post | This thread: 259 views | 6 replies
Go to thread Anonymous41169, Monday 09/29/14 08:03:17 UTC

So Sad Once Again

I don't believe "trolls" are sabotaging this site but actual robot employees from CCI are. So sad so many employees are grasping for their lives this pathetic little company that has NO MONEY! The end is here,the days of enrolling people who could never hack it at a real college or university for 4 times the cost of a traditional school and giving them little to know real education and lying to them about career services help are over. The government has finally brought the biggest most corrupt predatory lender and deceiver of desperate poor people to it's knees. I worked in Admissions, the biggest crooks of them all. I only worked for CCI for 1 year. When I first started i believed it all but as I saw the inner workings of each department I realized the place I was working for was nothing but a true scam. No help could be given by admissions to their students after the first month in class because we needed to concentrate on enrolling the next batch to meet budget. There was help from tutors as I saw them trying to avoid students like the plague. Their reason for doing this was "these people are so stupid and they smell". I saw the DOA pay off the proctor for the ATB test to get the most under-qualified students in class for the start. I saw instructors habitually show up to class late and show nothing but youtube videos for lessons. This is what Jack Massamino must have in mind when he say changing students lives. I hear some of you say you care about the students? If so, tell them to drop class immediately! Whatever it takes and go to a actual school. CCI has destroyed themselves due to greed point blank period. I challenge anyone that thinks CCI is a legit company to prove their point. Anyone who has worked there or currently is working there knows CCI is not changing lives they are deceiving people and ruining their lives all the while sealing taxpayer money. I quit before the DOE came down on CCI like a sledgehammer, I knew the end was near but was a little astonished it came so quickly. I now have a better job, slightly more money not much but very stable and I can sleep at night and no longer have to work with the vultures in the admission department (nothing but snakes and liars except for the ones who are just oblivious) If I can leave and get a much better life so can you! Do yourself the biggest favor and leave because in just a few weeks CCI will leave you.
Reply to this post | This thread: 195 views | 4 replies
Go to thread Anonymous41084, Monday 09/29/14 01:13:48 UTC

I See Dead People Walking

Met up with a friend who still works for CCI the other day. It was like talking to a Zombie. CCI is playing an emotional game with them to keep them around and it isn't pretty.
Reply to this post | This thread: 524 views | 12 replies
Go to thread Anonymous41083, Monday 09/29/14 01:12:40 UTC

Friday posts

WTF happened to Friday etc posts!
Reply to this post | This thread: 217 views | 3 replies
Go to thread Nana (Education), Sunday 09/28/14 23:56:43 UTC

It's as quiet on these boards as it is at the Campus level...What happened? Board moderator deleting 99% of posts? Why?

Reply to this post | This thread: 393 views | 6 replies
Go to thread Anonymous41062, Sunday 09/28/14 22:30:28 UTC

Instructors

Is anyone having an issue with Gradebook going down every third or fourth entry? I'm having a hard time getting my work completed if the system crashes this often. This has been going on the last few weeks. Has anyone else had similar issues?
Reply to this post | This thread: 219 views | 7 replies
Go to thread Anonymous41035, Sunday 09/28/14 20:01:58 UTC

Moderator is a CCI manager.

Reply to this post | This thread: 277 views | 3 replies
Go to thread Mr. Big (10th Floor at the P (used the be 4th at SA)), Sunday 09/28/14 16:27:28 UTC

Time for Scotch!

Reply to this post | This thread: 146 views | 3 replies
Go to thread Anonymous41000, Sunday 09/28/14 14:57:34 UTC

Wow - I cant believe it

My post from yesterday has been deleted. Who runs this and why would you delete any post? I have seen some mean and crazy stuff here so wondering why this happened????
Reply to this post | This thread: 395 views | 12 replies
Go to thread Anonymous40963 (Instructor), Sunday 09/28/14 04:07:10 UTC

Read the new 8k filing, but still confused...

So, with the recent 8k filing, I get that the 2nd amendment means that BOA has agreed to be a lender to CCI, but for how much? And why does the bank agreeing to lend to CCI mean that CCI can keep getting Title IV funds? This is a serious question, I'm just trying to understand how this works.
Reply to this post | This thread: 512 views | 11 replies
Go to thread Anonymous40947, Sunday 09/28/14 00:24:17 UTC

We are here for...

Socle. All of the bailouts, extensions , etc are fir Socle plain and simple. They need to keep cci in existence long enough for Socle to stand on its own two feet. They will do whatever they can to feed this baby. Once they are done squeezing blood out of you they will drop you like a red headed step child. Now unless you are one of Socles finest. You need to look for a job. And no, I am not Socle, but I support Socle. Now ask someone just how much money they have spent and continue to spend on Socle.
Reply to this post | This thread: 332 views | 9 replies
Go to thread SleeWow, Sunday 09/28/14 00:11:53 UTC

Who owns this board?

Reply to this post | This thread: 316 views | 8 replies
Go to thread Anonymous40943, Saturday 09/27/14 23:49:51 UTC

Corinthian College board

Hey everyone. Has anyone received any information about the potential Heald sale? With it being a somewhat profitable school, do you think it will be sold off?
Reply to this post | This thread: 279 views | 5 replies
Go to thread pl - computers - online, Saturday 09/27/14 23:04:55 UTC

Crazy Late Policy in classes

I have never been at a school where students can submit late work over 2.5 months late. They can essentially do no work for 9 weeks of a 12 week course and submit their missing work (including discussions) until the end of week 11. This is a 12 week course!! This means that instructors have to constantly monitor when an idiot, illiterate student submits their half-ass quality work because we need to grade it within 72 hours. Every time I log into the course, we can't just focus on the current week's work, but also see what sh*t work a student has submitted from the beginning of the class. This Late Policy helps no one! Students learn that being on time is not necessary. This will not be tolerated when they pull this crap at a job. Uhm, sorry boss, I can't meet your deadline. Let me submit it 2.5 months later. FIRED!
Reply to this post | This thread: 404 views | 26 replies
Go to thread Synonymous with board hijacker, Saturday 09/27/14 22:35:34 UTC

First draft secured Discuss

Everyone knows that we filed an 8K with the SEC last Friday, September 19. Employees are drawing conclusions based on the delay in communication of my memo on September 25. For those of you who whined about the information vacuum: too bad. I am The Man, which means I don’t have to communicate with you at all. The following information is intended to make you stop asking questions and abandon those ridiculous discussion boards. The bottom line is that there was a delay in securing and disclosing lender agreements described in our 8K. We waited long enough to scare the shit out of DoE, who doesn’t want responsibility for the steaming pile that would be left if they put me out of business. DoE and others helped us convince banks (some that the feds bailed out in 2008) to bail us out of the immediate student loan refund problem. Of course, that’s only fair because it is our turn :) If your little minds are concerned about the latest U.S. Attorneys’ request for documents about naughty behavior in the areas of career placement and financial aid, here’s the deal: We are cooperating and hope this investigation turns up nothing new. The ACCSC warning status is something we can worm our way out of, this business being incestuous and what not, so don’t worry about accreditation. And CFPB still knows we f***ed up, but (even if they can prove it) CFPB is a tired little weakling compared to the army of support I have garnered with others in positions of power. We are still in deep poo. That’s why I furloughed you and that’s why some of you won’t see this memo until days after I sign it. I really do appreciate your patience and bovine obedience to your management. Please continue to do every nonsensical thing they ask. In particular, keep harassing students who want to drop out. They don’t know about the hellish loan repayment schedule that will begin if they drop, so be sure to take every opportunity to tell them about it. This works especially well with single mothers and older students. Loan repayment is one of those legendary pain points we need to hit in every call. Now shut up and get busy.
Reply to this post | This thread: 190 views | 5 replies
Go to thread Anonymous40917, Saturday 09/27/14 19:38:49 UTC

Stipends

Long and short of it is this; is all this financial stuff going to hold back my October check?
Reply to this post | This thread: 128 views | 3 replies
Go to thread Second, Saturday 09/27/14 17:20:55 UTC

From SmallCapStreet.com COCO to deposit (to escrow) $5 million on 10/23 and 35% of net proceeds from sale of any school

Summary & Conclusion "The longer term future of COCO is not in doubt – the company will be dissolved and its assets sold. As reported in the company’s most recent 8K filing with the SEC, the company has reached an operating agreement with the Department of Education that is intended to result in the sale of most of the company’s schools, the teach-out of certain other schools, and oversight of the company’s ongoing operations. Under the agreement, the company will establish an escrow fund with an initial deposit of $500,000, and bi-weekly deposits of $250,000 until the fund reaches $30 million. Additionally, the company will make deposit of $5 million on October 23, 2014. The company will also be depositing 35% of the net proceeds from the sale of any school, in which the net proceeds exceed $750,000. As reported in the 8K filing, the company will continue to seek additional sources of liquidity through new financings, additional cost reductions, and accelerated asset sales (or a combination of these actions). On a near term basis the stock is trying to find support, and several technical indicators are mixed. Anybody holding on for severance? Jump!
Reply to this post | This thread: 426 views | 11 replies
Go to thread Anonymous40895, Saturday 09/27/14 17:15:03 UTC

all the good employees are leaving

Every day someone else in our dept quits. Of course its the good employees that are leaving. The deadbeats are staying around and hoping for the best. I have several intervuews next weeks so I hope to be gone soon also.
Reply to this post | This thread: 228 views | 5 replies
Go to thread Anonymous40849, Saturday 09/27/14 03:16:29 UTC

For CAMDEN KID

Check out http://www.thelayoff.com/universal-technical-institute
Reply to this post | This thread: 192 views | 2 replies
Go to thread Anonymous40845, Saturday 09/27/14 03:03:25 UTC

A buyer

Doesn't mean you will keep your job so I'm not sure why some fellow employees feel the need to stay. I know some just want unemployment and some are getting new jobs currently but I also know of some who are "riding it out". That is the dumbest frame of mind yet.
Reply to this post | This thread: 463 views | 13 replies
Go to thread Anonymous40838, Saturday 09/27/14 02:22:46 UTC

What will you do

What happens if ECMC acquires CCI and some departments? Say the announcement goes out sometime in October. Who will be the first to step up and apologize for all their negative posts? Conversely who will admit they were wrong if no sale goes through? The point being this is going to end one of two ways and I am betting the naysayers will have egg on their face but will not admit it.
Reply to this post | This thread: 442 views | 13 replies
Go to thread Anonymous40837, Saturday 09/27/14 02:20:25 UTC

Schools closing

Hows it going at the schools closing? Having party?
Reply to this post | This thread: 143 views | 1 reply
Go to thread Anonymous40832, Saturday 09/27/14 01:36:28 UTC

Happy Friday! One person = half the lies, er, rumors. Discuss. Need some sake.

Anonymous40204 Thursday 09/25/14 01:33:05 UTC " I'm just going to go on and have fun on this site, posting anonymously and seeing how people react. I've even started over half of the rumors on this site. Who's going to have the last laugh now?"
Reply to this post | This thread: 108 views | 7 replies

Post a news comment, question or message:

: