If there is another round of layoffs, how can the company afford to keeping paying out severances? Seems to me they would just let people go this time with no further compensation.
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I think we will learn this week/month if there are layoffs.
you lazy crooked assholes keep signing up minorities dickweed!
Since EDMC pulled themselves off the stock market they are even shadier. We don't have any access to the books - even the cooked ones. They will go broke just when it is time to pay back students for the fraud they committed. Four active lawsuits can't be good for the bottom line.
Correction: Vin Weber is on the Board of ESI. The EDMC board is a group of nobodies, except for Harber (former Pearson CEO) and Cook (KKR). Do they actually do anything now that KKR controls the company?
Vin Weber can afford to "work" for nothing.
The rumor at the corporate office is that EDMC is struggling to pay off the board of directors. (Keep in mind this is just water cooler gossip.) ED WEST was the first to go but gutting the team will cost $$$$. Each state has different laws regarding severance. Threat or not it was made clear in the Spring that the severance offered to faculty will not be the package deal in the future. Most are expecting layoffs in September so we shall see what is put on the table. It will also be interesting to see which programs remain.