do you think there will still be a severance package offered? I should have left months ago but I didn't.
These ideas of layoffs are more than just rumors, I overheard our campus president talking about combining schools and positions....
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Severance is usually paid to preserve the reputation of a company but, in most states, it is not required.
At the campus where I work, those let go so far were given 1 weeks pay for every year worked up to 10 years. There is something regarding severance on the company intranet. I have reviewed it for myself. Check it out.
Today, some of the students told me they received an email notifying them housing for the LA campus (located in Santa Monica) will be closing. They have until December to find a new home.
The availability of packages is really tough to call. It would really depend on the amount of people impacted by the re-org and how many golden parachutes they give out to execs. I'd like to say they'll be there, but it's not like we're discussing a legitimate business here.
It would make sense to consolidate campuses because some aren't profitable at all - they were just planned during the peak time of EDMCs lying, so they had the money.
But there could be some positives for those on campus, it'll depend on how this settles. When they gut The Center, they'll need to bring those positions back on campus before they try to sell the brands off. So if you're on campus, not making a ton of money, and don't have a ton of people in your department, you might have a little more time.