"Speaking on a conference call Thursday, EDMC Executive Vice President/CFO Mick J. Beekhuizen, said as of March 31 the company is in compliance with its financial governance, however in light of its current financial outlook, EDMC (NYSE: EDMC) believes it will "likely not satisfy its financial governance compliance ratios as of June 30, 2014.""
EDMC IS CLOSING OPERATIONS IN PITTSBURGH ON JUNE 30, 2014. THE SAME DAY IT WILL NOT SATISFY ITS FINANCIAL GOVERNANCE COMPLIANCE RATIOS.
60 days notice? That's funny. I worked at a company that just shut the doors on a payday and didn't issue, mail or direct deposit payroll. Over 300 people showed up and the door was locked. 3 months later I got my paycheck.
They will do what they want! They have no money so what does it matter? Its not like they can refund the students money and pay off the staff. It will be another Obama bail out.
How can you be so sure they are closing at the end of June. They have to notify employees w/in 60 days of huge massive layoffs... don't they?