Thread regarding Universal Technical Institute Inc. layoffs

UTI still losing money.

Another losing quarter, even after cost cutting.

https://www.marketwatch.com/story/universal-technical-institute-reports-fiscal-year-2017-fourth-quarter-and-year-end-results-2017-11-30?siteid=nbsh

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| 2057 views | | 15 replies (last )
Post ID: @QweYj5g

15 replies (most recent on top)

I hire alot form community colleges. They get Gen Ed classes and are far better prepared to work.

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Post ID: @QweYj5g-Fohb

We all know UTI considers the manufacturer to be their customer. The premise is to train future employees for the manufacturers. Naturally, the kids graduate with the thought of getting hired at various dealerships, earning great starting wages and getting their loans paid for because of the T.R.I.P their admissions representative told them about. Any job that does not have all these perks for a fresh out of school 20something year old with 0 experience may be beneath them. Sure, there are success stories, but also countless grads working minimum wage because of no experience plus with the loan repayments I imagine it could be very difficult for these young men and women who fish the 30-50k programs. I honestly wish these students could find out about or consider taking automotive and diesel programs at local community colleges.

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Post ID: @QweYj5g-Flvj

Hell,

I have tried to hire these kids. They dont want a job. I am paying a good starting wage with a ton of opportunity for advancement. What do I get from UTI? Nothing. These people dont want to work. I cant get anyone there to call me back.

As far as paying tuition for them? No way. If they are good and make it their first year I am going to send them to the training they really need. It will cost me over 100K to train a tech to Master tech level and this will be done in about 5 years time. I am required to have these master techs in the shop and will pay a good wage to get someone worth training. UTI just keeps cutting and digging deeper to stay afloat. This impacts the graduate skill set and they are not hireable. At least not at a wage that they can pay off their massive student debt.

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Post ID: @QweYj5g-Fgvq

I really wonder why the huge T.R.I.P push that admissions has been talking about these past few years hasn't helped. You know T.R.I.P (tuition reimbursement) that made it front and center in all the presentation so that kids and their parents wouldn't be afraid to take out loans. It was "good news" and "employers are willing to help pay their tuition" technically ambiguous enough that no one can get in trouble for saying it. I think the big push started about two years ago and I truly do hope that the students that took out all their loans "because someone else will pay for them" don't start complaining about why no one is paying their loans.

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Post ID: @QweYj5g-Dvyz

look on the bright side. at least no one can accuse UTI of being one of those nasty for-profits anymore. they aren't making any

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Post ID: @QweYj5g-ynhw

Word on the street is there are big cuts slated for Feb. Sounds like some of the fat cats may finally get the the axe.

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Post ID: @QweYj5g-viom

I'm very surprised about the subletting plan in Rancho. What's going on with all the recent turnover? I keep getting updates about advisor positions at Rancho, about three in a matter of weeks. Are they firing everyone who gets paid more and replacing them with people they can pay $16 an hour, or are all their advisors quitting the micromanaging pressure?

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Post ID: @QweYj5g-qecb

When I was told that the plan was to sublet upstairs at Rancho, I knew that campus was on life support. It’s slowly sinking into the abyss.

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Post ID: @QweYj5g-cimv

lots of upheaval in the company they are scraping pockets to find money to fund the next campus while at the same time subleasing anything they can to get out from under the empty buildings and real estate. Still no real strategy or plan from management other than click their heels and hope the students come back. meanwhile the stock continues to slide along with morale and enrollment. Most employees are just phoning it in while keeping their eyes open for anything better out there.

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Post ID: @QweYj5g-czud

This place will be dead soon. Just a matter of time. Stock today at 2.55 and red all the time.

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Post ID: @QweYj5g-bfsu

Expecting lower enrollment for 2018 and still spending 11 million dollars on a new campus. What in the hell is wrong with these people? Kim McWaters and her bunch of dopes have ruined this company. But we can rest easy knowing all of the senior team "earned" a substantial bonus last year. I don't understand how anyone with one shred of morals could accept a bonus for doing such a poor job. These are the people that are running this company, and we're told we need to all pull together because we're all on the same team.... you can't be serious. 2018 is the time for a complete purge of senior management.

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Post ID: @QweYj5g-btum

it's a fire sale now

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Post ID: @QweYj5g-7cne

The closing of WyoTech will save UTI.

8 hours ago by Anonymous | Post ID: @QweYj5g-4nqf

No chance. Just a sign of things to come. Nobody wants to hire these guys. I have tried, they are not prepared to work and sure cant justify a wage high enough to build a career as a tech and pay off their massive loans. This for profit school, we are Harvard mentality will lead to their demise.

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Post ID: @QweYj5g-5ujf

The closing of WyoTech will save UTI.

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Post ID: @QweYj5g-4nqf

Net loss for the year was $8.1 million, compared to a net loss of $47.7 million for the prior year period.

Enrollment dropped from 12,900 in 2016 to 12,100 in 2017.

Greater losses are expected in 2018, due to new campus construction in New Jersey.

https://www.marketwatch.com/story/universal-technical-institute-reports-fiscal-year-2017-fourth-quarter-and-year-end-results-2017-11-30?siteid=nbsh

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Post ID: @QweYj5g-one

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