I've been saying it for weeks, some of you have been listening and some of you have not. Now that it's starting to approach, and everyone is starting to see reality, they are crapping their pants. I assure you, this has been no secret as long as you have your eyes open. Stevie wonder may have been fooled, but that's about it! Enjoy your last few days as an EDMC employee. Kool-Aid drinkers – put down your sippy cups. The ship is about to crash shore.
16 replies (most recent on top)
I have heard thru the ex-employee grapevine that 34% was the number. My source is getting it directly from an HR employee. The date of the 24th is what I'm hearing from others, not sure if all 34% will be the same day or week but I would assume they want it done by end of fiscal year. I was with the company for a long time and went thru multiple layoffs at EDMC and so was my source. Be prepared, take stuff home with you tomorrow if you think you may be the 1 in 3 that will be escorted out when it happens.
I would also like to know where 34% came from? It is specific. 34% of all locations combined including Pittsburgh, the center and campuses?
@396,
Where did you get the number 34%? Not that it sounds off the mark unfortunately, but it's very specific.
Why the 24th? I don't know the significance of that day.
34% of staff will be cut by EOM, 24th sounds about right to me
Before Goldman Sachs, this company was in beautiful shape! So proud to be an employee, yes I was! Corporate greed has unfortunately entered the equation, via our friends at Goldman Sachs. What a shame! They have taken us from feeling proud about who we worked for and the mission we were eager to fulfill, to a slime ball company whose primary goal is to make "gazillions" of dollars for shareholders and NEVER give a second thought to 1) students, who want a better life for themselves and their children and 2) employees, who in many cases have worked hours and hours of overtime trying to save their jobs (with no overtime pay, because overtime is at 1.5 an hour and WAY too expensive). Of course, OT (overtime) is "forbidden"!! The sad case is that as an employee of EDMC we would like to KEEP our jobs, as we have families with children to feed and spouses who depend on our paychecks. It seems that no one at the Center is willing to even try to save the company or, more importantly, save the families whose only mission was to save the employees, whose goal was ALWAYS transparent! "Save our school! We will teach those students who have fallen through the cracks from the ground up. Remedial Math or Remedial English?? Yes!!! Let's give these students the education that they deserve and missed the first time around. High school teachers felt that they did not have the resources necessary to teach these students the first time around. I could really be on my soapbox for a veryyyyyy long time, but I will retreat. Students need and have a right to expect good education in our public schools and when they do not "get" that education, we should be willing and able to correct this.
, they should be w
Insider-
Yes they delisted from Nasdaq and the stock was bought back. Now they trade on "OTC" (over the counter) and as of Friday's close were trading at 13 cents
So what there going to close more schools or all of them including online and try to sell them? I keep hearing both.
The "stock" is not worth 13 cents. Its not worth anything There no stock. They are de-listed on the Stock Exchange as of last fall. They bought back all the stock. Privately held by KKR. They are cutting schools and staff to prepare to break it all up and sell it all off.
179 Okay that makes more sense thank you and yes things do no look good at all. I can only imagine the stress for all involved. With the stock at 13 cents and dropping I have no idea how long the EDMC has.
@160,
154 isn't saying that things are going to be alright. He/She said that they will be right, as in correct.
We have no knowledge as to if these posters saying 6-24 is doomsday really know what's happening or that they are trying to stir up drama in an already stressful environment. I'm an adjunct so I'm always looking over my shoulder and never knowing if I'm teaching until I've actually taught week 1 (I've have classes cancelled on me on week 1 but before the class met). I've been sacrificed so that a full timer can meet their class load needs. I know that if full timers are now getting the ax (and at my campus and one I used to work for, far fewer than expected took the sweetheart package) next week isn't going to be pretty.
I saw a stress load last week in my direct supervisors that I've never seen before. This one is going to be big and ugly. 13 cents. After next week, how close to zero will we get?
154 How in the hell are they going to be alright? There stock is worth 13 cents for God sake and they have so much on their plate with lawsuits plus the debt the owe. I mean they are not making profit at all and they are losing funding from the goverment I want to know how they going to be alright?
I think the poster is really just basing his ideas off of history..but I think they are going to be right..I think something is going to happen..not sure this person has any real inside info..but just a good basis for their prediction
Really! Say something or say nothing!
Tell me more, how many lay-offs and what positions?
no matter what...you sound so childish and ridiculous whether you are delivering truth or not. Ugh...