Socle is affected by the reduction. Here is an excerpt from the e-mail:
From: Ord, Ken
Sent: Thursday, July 31, 2014 3:11 PM
Subject: Voluntary Temporary Pay Reduction Through Time Off
Date: July 31, 2014
To: All Hourly Employees including Hourly Faculty
From: Ken Ord, Chief Administrative Officer
RE: Voluntary Temporary Pay Reduction Through Time Off
We have some difficult news to share with you today. Given continued declines in our company’s revenues and federal funding constraints, we will be reducing employee compensation. Employees will be affected by this decision based upon position (faculty or non-faculty) as well as form of pay (salary or hourly). We regret any hardship this reduction may create for you or your family.
Here is how the reduction in compensation will work for you:
If you are receiving this memo, you are an hourly employee, and the compensation reduction will take the form of voluntary unpaid time off
....
If you have any questions about the above, please ask your Campus President, department head or HR leader.
Ken Ord
Executive Vice President and Chief Administrative Officer
Corinthian Colleges, Inc.
6 Hutton Centre Drive|Santa Ana CA 92707
www.cci.edu
This e-mail, and any files transmitted with it, contains information from Socle Education, Inc. that is confidential. Employees are reminded of their obligations regarding confidentiality and trade secrets as stated in their Employee Handbook. If you are not the intended recipient, you must not disseminate, distribute or copy this e-mail. We respectfully demand that you notify the sender immediately by e-mail if you have received this e-mail in error and permanently delete this e-mail from your system. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited, will cause damage to Socle Education, Inc. and may result in legal liability.