Total crap email. Further expense reductions... find new jobs now. Do they even have enough money to pay us next week?
TO: ALL EMPLOYEES
FROM: JACK MASSIMINO, CHAIRMAN & CEO
RE: Update on Negotiations with Department of Education
We continue to work with the U.S. Department of Education to avoid a sudden and unplanned wind-down of our operations. Since our communications to you on Thursday, we have met with Department officials several times to discuss alternatives to the 21-day hold on our Title IV funds, as well as proposals for the orderly transition of our operations. We have asked our friends in Congress to contact the Department on our behalf, and several of you have written to your own members of Congress to protest ED’s unreasonable actions against our company. If others of you would like to write to your member of Congress, please review your response with our Washington D.C. office (either Omar Terrie (oterrie@cci.edu) or Paul De Giusti (pdegiusti@cci.edu)) before sending.
In addition to our negotiations with ED, we are exploring all available options, including alternative sources of financing, legal remedies and further expense reductions. When negotiations are at an appropriate stage, we plan to reach out to the news media.
We will continue to keep you posted as we move forward. Thank you for your continued support during these challenging times.
Jack