Many, many more layoffs ahead...
http://www.azcentral.com/story/money/business/2015/10/03/university-of-phoenix-enrollment-apollo-education-group-fortunes-wither/73217858/
3 replies (most recent on top)
FTC will close this dump down next year.
*Additional important information may be found on: www.collegescorecard.edu.com
This DOE site which has been curiously ignored by the "for-profits" tells it all.
Cost per year, graduation rates and gainful employment estimations if you are one
of the few of the few who actually graduate. The whole "industry" is pitiful by yardstick.
Capelli is a first class con man, though.
direct quotes: "Cappelli, who has received $23.7 million in compensation from 2009 through 2014" ; "Earlier this year, Apollo told The Republic it employed 7,150 in Arizona, or 18 percent of all its workers. That made it the state’s 20th-largest employer. In 2008, it had 14,783 and ranked third statewide." ; "Job cuts continue. In 2010, the company employed more than 57,000, nearly 22,000 of whom were full-time workers not considered faculty, according to its filings with the Securities and Exchange Commission. A year ago the company employed about 39,000, with 13,000 as non-faculty."; "In 2002, the year the university’s enrollment stood at about 157,000, the company employed about 24,000. Of those, 5,900 worked full-time as non-faculty, according to Apollo’s financial records. If it matched that, Apollo would have to cut 7,000 jobs from what it had last year."; "Earlier this year, Apollo told The Republic it employed 7,150 in Arizona, or 18 percent of all its workers. That made it the state’s 20th-largest employer. In 2008, it had 14,783 and ranked third statewide." l"Cappelli acknowledged a “smaller but stronger” university and said “the numerical size of our workforce will always prove dynamic.” He would not quantify changes ahead of Apollo’s year-end earnings report on Oct. 12.
The ratio to students to employees at University of Phoenix has largely held over 20 years, suggesting a steep reduction in jobs if enrollment comes down to 150,000.
“It is clear that the company is bloated with too many mid-level managers. I predict at least one round of layoffs of a couple of thousand people,” said Robert MacArthur, president of Alternative Research Services Inc., a Connecticut-based company that provides research for investors.
It’s unclear how that could affect Phoenix, which now has slightly less than one-fifth of the company’s workforce, many of them at the company’s headquarters along Interstate 10 in southeast Phoenix and at its main metro Phoenix campus in Tempe."