Don't be a fool

You got a 10% pay cut while the Jack got a 5.6 raise and a him and his executives got healthy bonuses for 2013.

http://banktalk.org/content/contemplating-calamity-corinthian-colleges-consider-cashing-out

Guess what? If you are terminated/layed off or quit during the 10 week pay cut period your vacation and severance(if you get any) will be paid out at the reduced rate. Don't believe me, contact the benefits department and see for yourself.
They knew this was coming before the DOE put the hammer down. That is why they told us to wear casual clothes through the end of the summer to soften the blow.
They were going to sale and cut costs before the DOE put the hammer down. They had hired someone to do this remember in May they announced they were in trouble BEFORE DOE. This article was posted in May:

http://banktalk.org/content/contemplating-calamity-corinthian-colleges-consider-cashing-out.

In May they announced that they had breached debt covenants.

http://www.reuters.com/article/2014/05/06/corinthian-clgs-strategy-idUSL3N0NS31V20140506

The DOE didn't put a hold on funds until the middle of June. This all was a long time coming. DOE is not the cause of the demise of CCI. Greed and deceit and unethical practices is the cause of the demise of CCI.
The benefits have been cut to almost nothing. No more tuition reimbursement. No more matching of 401k after August 15th. Again this was announced BEFORE the DOE debacle.
What part of they were going to shut down and do all of this before DOE got involved do you not understand? Now it just has to happen faster and with an appointed DOE attorney watching.

Wake up!

Comment! It's anonymous!

15 replies (most recent on top)

Anonymous25464 Ha Ha. I don't need the competition either. Good point, but if you already know then good for you carry on.

Employee. Not an employee.

You're probably not even an emoter, OP.

Why is it your job to enlighten them? Some of us are looking for jobs. Once others figure this out, they will start too. I don't need the competition.

Because some people on here are still trying to blame all of this mess on the DOE fund hold and the federal government. They just needed to be reminded smart a$$.

Some people still don't get it. If you see or already did see the light then this post isn't for you. Ignore it and carry on.

Why are you assuming nobody gets what's going to happen? Settle down OP. We know we are doomed.

Jacko publicly discussing selling off schools in May: http://www.insidehighered.com/news/2014/05/07/corinthian-colleges-contemplates-sale-amid-declining-enrollment-and-revenue

Anonymous25434- There's California and the rest of the world. In California we still get paid our accrued vacation, since CCi cannot take it away.

No vacation payout as of 3/31 re-read the HR memo Severance pay Ha Ha get off that boat sailing down the Nile, they cannot buy toner. Plus the agreement will not let them pay severance. You only get a payout for ACCRUED vacation. We no longer have that we got ours all at once 3/31 for the year.

I was informed that this doesn't impact our campus.

This part is F#@!ed up!

You got a 10% pay cut while the Jack got a 5.6 raise and a him and his executives got healthy bonuses for 2013. http://banktalk.org/content/contemplating-calamity-corinthian-colleges-consider-cashing-out

If "DOE is not the cause of the demise of CCI," at whom will all the angry employees be mad? Oh, I know! All the "trolls," they are the problem. Certainly cannot be anything to do with CCi, or its management. Remember when CCi had over $200M in cash?

This is absolutely true:

Guess what? If you are terminated/layed off or quit during the 10 week pay cut period your vacation and severance(if you get any) will be paid out at the reduced rate. Don't believe me, contact the benefits department and see for yourself.

Whoot there it is!

Thread regarding Corinthian Colleges Inc. layoffs

Don't be a fool

15 replies (most recent on top)

Post a reply