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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

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Posts regarding layoffs at Corinthian Colleges Inc.

Go to thread Anonymous36919 (ex-SF), Tuesday 09/16/14 12:52:04 UTC

Anyone have anything planned for Constitution Day?

I started a new job in July, and was just assigned the task of getting documentation of tomorrow's Constitution Day activities for our records. Apparently, any school that does not have special activities planned for September 17th is no longer eligible to receive financial aid. This is the first I've heard of it, and don't remember ever having anything at our Everest campus (Brandon). Do the rest of you have these events, or has CCI just ignored this requirement as well? I'm constantly amazed now that I work for a real college just how much SFS let slip through.
Reply to this post | This thread: 13 views | 2 replies
Go to thread Anonymous36907 (adjunct), Tuesday 09/16/14 11:47:46 UTC

should I do the right thing and give notice

I am done teaching after this term...tired of the BS. Should I do the "right" thing and let them know ahead of time before they assign classes? Or should I just wait till after I turn in final grades to tell them? Of course, we may not even have classes next term so that would take care of the decision.
Reply to this post | This thread: 44 views | 4 replies
Go to thread Anonymous36882, Tuesday 09/16/14 05:54:27 UTC

Can someone explain the "three check month" theory?

Sure I see that there are five Fridays next month, with three paydays, but at the end of the year am I making more money?
Reply to this post | This thread: 122 views | 5 replies
Go to thread Anonymous36880, Tuesday 09/16/14 05:40:08 UTC

Did you see any justice here with furloughs and 50% cuts?

Is Jack and the key execs taking responsibility? They tell everyone to take a week of or 50% pay cut. Hurts us. Cut deep at the wrong time of the month. Their 3 check reasoning doesn't even calculate right. It is not a genuine 3 check month. Its no skin off their chin. Take a closer look at salaries and sec shares transactions. Big dump. http://insiders.morningstar.com/trading/executive-compensation.action?t=COCO http://investors.cci.edu/sec.cfm Dig deeper and we find that they are not being fair to the downline. Moreover, they contribute to the overall problem. There has to be a time when they should be held accountable. And stop holding everyone else accountable for their greed.
Reply to this post | This thread: 4 views | No replies yet
Go to thread Anonymous36879, Tuesday 09/16/14 05:29:37 UTC

2 Week Notice during furlough....

So how do I do this? Maybe I'll just send an email to start the two week notice. Good bye Heald!
Reply to this post | This thread: 40 views | 2 replies
Go to thread Anonymous36861, Tuesday 09/16/14 04:03:47 UTC

Those who talk about the deal, lose the deal

It's actually in our best interest not to speculate.
Reply to this post | This thread: 115 views | 3 replies
Go to thread WAAX, Tuesday 09/16/14 03:16:44 UTC

Post your salary info here

Specify location, position and salary level. Admissions Representative, the Bay Area, $48K
Reply to this post | This thread: 290 views | 21 replies
Go to thread board hijacker, Tuesday 09/16/14 02:03:42 UTC

Seriously, stop reading this board.

Spend time with your family, read a good book, watch some TV. Take your mind off work because very few know what is going on. I was privy to some information on Friday that made me a bit upset and I know for a FACT that the sale isn't happening in 2 weeks. You see, I was always told 2 weeks, 2 weeks, 2 weeks and now it has become sometime in October. They are talking retention which indicates to me that we will not be a servicing company as I hoped for. In all honesty if I were you I would not be holding out any hope. I did, I really thought that we could sell our services to the buyer and that has not panned out.
Reply to this post | This thread: 296 views | 23 replies
Go to thread Anonymous36783, Tuesday 09/16/14 01:33:07 UTC

They're trying to push that severance post down!

Wow! I always thought that stuff was crap.
Reply to this post | This thread: 80 views | 1 reply
Go to thread Anonymous36782, Tuesday 09/16/14 01:29:04 UTC

Hey Jack if you and your family get hungry....

You can eat some of Randy's Schweatti Balls
Reply to this post | This thread: 3 views | No replies yet
Go to thread Anonymous36776, Tuesday 09/16/14 01:16:46 UTC

And in the latest and most nefarious turn of events, Patrick Fitzgerald has notified Jack Massimino that if he wants more Title IV funding he...

...must participate in a reenactment of the "more gruel" scene from Oliver Twist, in which Fitzgerald will play the role of the headmaster and Jack will grovel. Simply diabolical!
Reply to this post | This thread: 69 views | 2 replies
Go to thread Former Everest Employee, Tuesday 09/16/14 01:11:20 UTC

Jack needs to "Live In A Van Down By The River"

F*** You
Reply to this post | This thread: 18 views | 1 reply
Go to thread Anonymous36761, Tuesday 09/16/14 00:36:31 UTC

No News is NOT Good News

All we can do is either wait for our fate or create our own. The choice is yours. For me, the only positive of a campus sale could possibly offer a sigh of relief. I don't want to be in a situation that can only offer a sigh of relief. So instead... I did my own research into other schools and did my own job search. I turned in my notice today. My leave is on MY terms. I don't have to have a sigh of relief but and ecstatic and positive view of the future. I hope others know that they too can make their own paths. DONT WAIT.
Reply to this post | This thread: 111 views | 5 replies
Go to thread Anonymous36755, Tuesday 09/16/14 00:16:18 UTC

Troll Vs. Furloughed Employees: who are bigger jerks?!?

End of day 1, I would call it even. And still no useful information.
Reply to this post | This thread: 61 views | 3 replies
Go to thread Anonymous36714, Monday 09/15/14 22:28:56 UTC

DOE rejects CCi's low ball severance package offer before the sale next month.

At least someone has our backs for those of us going down with the ship.
Reply to this post | This thread: 631 views | 22 replies
Go to thread Anonymous36705, Monday 09/15/14 22:15:28 UTC

Jack Massimino not taking a salary

I overheard someone saying that Jack Massimino has not drawn a salary since Last June. I heard other Execs were doing something similar.
Reply to this post | This thread: 342 views | 13 replies
Go to thread Anonymous36703, Monday 09/15/14 21:58:34 UTC

Poor Jack

Do the math Jack M owns 755,324 shares of stock. At 14 cents a share that is 105,745.36 Current value. One year ago stock was at 2.50 a share so his stock would have been worth 1,888,883. That is a loss of 1,133,559 in one year! haha no wonder he lost the house and lives in a hotel! Does anyone feel sorry for him now? I didn't think so! but hopefully it makes you feel just a little bit better knowing how much he has lost :)
Reply to this post | This thread: 109 views | 4 replies
Go to thread Anonymous36679, Monday 09/15/14 21:22:33 UTC

33675 that is the BIG story!

Reply to this post | This thread: 73 views | 2 replies
Go to thread Anonymous36675, Monday 09/15/14 21:20:43 UTC

How can anyone have anything except contempt for those still working for CCI let alone compassion? I spoke with some of my former colleagues

and asked them how they, in all good conscience, could still work for CCI and not inform their students of the company's demise. Their answer was that although they felt "conflicted" they needed the money. No one can feel sorry for you when you have had months of notice unlike your students or you colleagues who were laid off or terminated without notice. All of the major news organizations have been reporting sense mid August that Corinthian has "collapsed" not is collapsing. It can't get much clearer than that. I notice that most of you believe that you will be entitled to unemployment insurance benefits but that is not the case if your documented poor performance caused your termination. In other words, those of you on PIPS should be concerned. The loss of unemployment benefits, however, should be the least of your concerns. It could be far worse, you could be indicted and sent to prison. At the very least all of you "so called" educators should be so very ashamed! There is no excuse for withholding the truth from your students, they trust you and you owe them at least that much.
Reply to this post | This thread: 224 views | 9 replies
Go to thread Anonymous36625, Monday 09/15/14 19:47:27 UTC

Anyone having much luck.....

...finding other jobs in the education industry?
Reply to this post | This thread: 289 views | 9 replies
Go to thread Anonymous36575, Monday 09/15/14 17:24:20 UTC

I went to a college fair this weekend. I spoke with admissions representatives from the competition.

According to the reps I spoke with, many former Everest students are enrolling and attending at the competition. The sad thing, at least from my perspective, is that these reps are likely being told what a great job they are doing enrolling so many students, yet it has little to do with their skill, and much more to do with the collapse of CCi. At the same time, the education department at Everest is getting hammered for losing those students, and that's not to mention Everest admissions is getting beat up for not enrolling sufficient new students. Maybe a week away from the place is not such a bad thing, until that tiny paycheck comes.
Reply to this post | This thread: 213 views | 9 replies
Go to thread Anonymous36572, Monday 09/15/14 17:21:02 UTC

Oct 6th

Layoffs and firings to be able to meet paroll on Oct 17th. That is when the cadflow goes negative with out deep cuts.
Reply to this post | This thread: 600 views | 10 replies
Go to thread Anonymous36571, Monday 09/15/14 17:11:47 UTC

10-K is due today, but I don't expect to see it. Tomorrow I expect there will be a NT 10-K filed.

There are various reasons I expect that we will never see the 10-K.
Reply to this post | This thread: 101 views | 2 replies
Go to thread wife of ft instructor, Monday 09/15/14 16:43:04 UTC

here's what happens when you RIF paperwork at Everest. First of all.emai,. not even the courtesy of a face to face..plus took 50% of pay.

,.
Reply to this post | This thread: 316 views | 5 replies
Go to thread Anonymous36543, Monday 09/15/14 15:59:08 UTC

Dear newspaper editor

Dear newspaper editor: There’s no real story here. Everest is collapsing due to false promises on a poor degree, bad admissions and pressuring instructors to pass people through. The recent requirement for instructors to start making “admissions” type calls to get students to participate and bring their grade up, is nothing more than a veiled way to force adjuncts to fake the grades. If we fake the grades, we waste less of our personal time and call less. The pressure to email and call is recent, it just started early this year and keeps racketing up, It is to retain, retain, retain, even if the student should not be retained. We all know that if we don’t make these worthless calls, bump fake grades, you will not get classes next quarter. It used to not be this way. I was thrilled years ago teaching here, the AD’s and PD’s didn’t care if you flunked someone who deserved it and you could encourage students in your own creative ways. You could truly work with students as it should be. A few bad professors and an increasing bad pool of students’ foretold the demise. The bad trail began when the pool of students decreased and Everest went after the real dregs of society that just want to rip off the government for more money. The students run about 70-30. 30% seem to try and want to do well, some are not previously equipped and need to be brought up to speed, and some could make it at any college. The other 70% are either fake, really shouldn’t be at any college or are just doing it for the money to live on. Everest signs anyone, even if they don’t even have computer skills enough to do the work. Everest gets paid, the student gets paid, the taxpayers get screwed . The only answer is to reduce the “little chiefs” (PD’s are worthless) and the adjunct professor s, along with better screening in admissions. Shrink the school and make it streamline and demand quality education. Maybe a name change is in order. Stop hiring English, public administration, sociology, etc, etc., majors and only hire those doing the job. Too many PHD’s just for the sake of having them , regardless of what field it’s in. Doing the real job is what private schools have to offer, Everest needs to figure that out again and get back to the basics if they are going to survive. I used to work with many adjuncts that did the actual job. Now my PD has never done the actual field I teach in, most adjuncts have crazy degrees and never did the work. Doing the real work in real life is way more important that the degree and whether it’s a PHD or ?
Reply to this post | This thread: 285 views | 12 replies
Go to thread Wow (Wow), Monday 09/15/14 15:45:39 UTC

Wow

So meanwhile we all take 40 hours unpaid "voluntary" time off, SOCLE employees Are exempt!? WTF seriously!
Reply to this post | This thread: 475 views | 17 replies
Go to thread Anonymous36531, Monday 09/15/14 15:31:20 UTC

It's Trolls vs. Furloughed Employees on our board this week.

Who is angrier? Who is meaner? Who will be the biggest bullies?!?! Stay tuned. . . Actually I am not. The weather here lately is stormy and ugly and dark and gray. I've no real interest left in what's happening. I trust internal emails more than this board full of whack jobs.
Reply to this post | This thread: 9 views | No replies yet
Go to thread Anonymous36518, Monday 09/15/14 15:13:58 UTC

Someone trying to flood this board with crap posts

Someone is trying to flood this board with crap to push real posts and discussion off. Silly little Kool-Aid drinkers. I too hope CCI can pull it out, but the way they are going at it seems they know nothing of a university program and have no plan. They are classically top heavy and use the X Theory of management with the motto, "row well and live"
Reply to this post | This thread: 67 views | 3 replies
Go to thread Chris Staiti, Monday 09/15/14 15:09:44 UTC

Media

My name is Chris Staiti, and I'm a writer/editor for Bloomberg News who follows Corinthian. If anyone (students, employees, ex-employees) would like to talk or share, please contact me at cstaiti@bloomberg.net.
Reply to this post | This thread: 581 views | 22 replies
Go to thread Anonymous36517, Monday 09/15/14 15:03:32 UTC

Corinthian Campuses Up for Sale or Being Taught Out

http://files.shareholder.com/downloads/COCO/3472207579x0x777753/4AE80A92-9D45-4E5C-AD95-A8F808C548EF/For_Sale_and_Teach_Out_Campuses.pdf
Reply to this post | This thread: 191 views | 5 replies
Go to thread Anonymous36505, Monday 09/15/14 14:43:14 UTC

STUDENT HERE: I love Financial Aid

https://www.youtube.com/watch?v=eGNIfrwcmzY
Reply to this post | This thread: 90 views | 2 replies
Go to thread Anonymous36499, Monday 09/15/14 14:30:16 UTC

What next so they can make payroll

What are they going to have to do next to make payroll? They have already cut expenses, 10% reduction in pay, and now furloughs. Short of laying people off, what else can they possibly do to make payroll in late Sept and early Oct?
Reply to this post | This thread: 294 views | 9 replies
Go to thread Anonymous36495, Monday 09/15/14 14:19:15 UTC

I've been up to a little mischief on this lovely Monday morning

I wrote "thelayoff.com/corinthian-colleges barred by CCi, use cell phone" on a few post-its (yes, I still have some from my personal stash). I've been leaving a couple around the breakroom every time I go through. Wonder how many people hadn't discovered this site yet? If nothing else, it'll bring some new blood and perspectives that are not trolls. We shall see.
Reply to this post | This thread: 132 views | 4 replies
Go to thread Anonymous36482, Monday 09/15/14 13:55:30 UTC

I was wondering what our values were!

Funniest thing I've ever read: on cci.edu (where, BTW, there are many current job listings, especially for Heald), our fearless leaders try to explain our corporate culture to potential new employees. You know, just to make sure they know what they're getting into and how our management operates. Here it is: http://www.cci.edu/careers/company-culture (also interesting that we now only have 4 values from the columns - if were more motivated, I'd look up which ones we've apparently discarded).
Reply to this post | This thread: 100 views | 7 replies
Go to thread Anonymous36479, Monday 09/15/14 13:41:44 UTC

Day One Of Furlough

Isn't this just great? A whole week off and I'm on here wasting time I could be spending job searching. Not really, though. I think I applied for everything that I even possibly might qualify for over the weekend. Just taking a day to chill and wondering what it's like back in the office with so many people gone (EUO Tampa). How's everyone holding up? I think I'll go sit on Micky D's patio with a coffee and apple pie and pretend it's a high-end cafe. I'm not getting paid, so no unnecessary spending this week. Cheers!
Reply to this post | This thread: 279 views | 10 replies
Go to thread Anonymous36454, Monday 09/15/14 11:07:21 UTC

Oct 6

Watch out on Oct 6th. Major cuts on that day. Those on Pips will be fired. Lots of people will be given 2 week notice. Most non essential positions will be eliminated across all campuses.
Reply to this post | This thread: 411 views | 10 replies
Go to thread Anonymous36451, Monday 09/15/14 09:03:04 UTC

THIS IS THE POST THE TROLL WAS TRYING TO PUSH DOWN.

Anonymous36278, Sunday 09/14/14 04:56:43 UTC Honestly Who is buying CCI? I hear if we don't have a buyer by OCTOBER 6TH MAJOR RIFFS ARE COMING.
Reply to this post | This thread: 147 views | 2 replies
Go to thread Anonymous36423, Monday 09/15/14 01:49:54 UTC

Karen Springer starting at Kaplan??!

The Franklin Mills campus hired that waste of space? Expect to see that campus closing in 6 months. All she does is destroy campuses. Ask people from premier in Mass and the Bensalem campus. If you know anyone who works there, tell them to start looking ASAP!
Reply to this post | This thread: 120 views | 3 replies
Go to thread Anonymous36417, Monday 09/15/14 01:00:45 UTC

4 day work weeks are next

That's another 20% off
Reply to this post | This thread: 208 views | 1 reply
Go to thread Anonymous36410, Monday 09/15/14 00:29:04 UTC

For whatever reason, the trolls are angrier than the employees.

Trolls should find something better to do with their time than post accusatory crap we aren't reading anyway. Sign up for anger management and move on with your lives.
Reply to this post | This thread: 48 views | 3 replies

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