Realize the only people putting a positive spin on what is going on, such as putting out there that next two paychecks will be made, only non essential cuts being made, working because they care about students, it's all bs. All they are doing is trying to get you to buy in on false hope. That way you stick around, make them some extra cash and get work done so they don't have too, and you'll end up doing it all for free. These are the same idiots who screwed with the government even after they were warned from the highest levels.
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Our director bought us smoothies. She's the best!?! Smoothies...................................smoothies.
Also, I was already aware that the 16 Million was pretty much already spent with 6/27 payroll. This is not news to me. I just hope the utilities/rent are all current. From what I read in the MOU and the SEC filing, there should be more money released before the next check. I know, some people say its contingent but if it is, we close and I get nearly $1000 a pay period when I max unemployment. WIN for me, I'd rather not work at Target.
Sure I'd walk away from $1,000 without blinking an eye if that is what I was getting paid. I could get that at the local Target. Also, does the hold not expire on July 6? That is 5 days before the next check. At the very least the MOU states there should be solid answers by July 1...I'll take my chances until I get more information.
14925, that is exactly what is being said about still being lied to. No stock drops like that for anything but extremely bad reasons. There could be legit reverse splits but not dropping it to junk stock levels. Those are the same people who tell you now, it'll blow over. It will not.
For those who did get screwed and need employment, I don't believe anyone is saying quit. Just that need to start looking now for new position. That is all you can do at this point, just don't anyone believing the lies that all is okay or will be. Even if certain assets are sold, a total purge will happen to dissociate from CCI, regardless if you are honest good staff member. It's just how it works and not personal. If you find a new job, take it and start as soon as they want.
14912, no one is trying to tell you to buy stock in this disgusting corporation. No one has to disclose facts because cci is publicly traded, that is for investing only. Read news stories, investment articles... cci themselves have stated the fuIrther in indirect terms, because they have to legally. Because you choose not to read or read into what they are saying is your own decision. People are only trying to keep the low life con-artist specialists at cci from getting people to buy into the bs.
Best you can do, take a good look at how the execs are acting and working at your location.
I guess I am strange, but I value my self respect enough to where I refuse to be abused and screwed with by an employer (or anyone else for that matter.). There is NO guarantee of income past your next check, which means it is very possible you may not get paid for the current hours worked. How far do you think $16 million is going to go across CCI. Let's do A little math: 1000 employees paycheck of $1000=$1,000,000. CCI currently employees around 12,000 people. If all their pay checks are $1,000, That means payroll alone will be $12,000,000 dollars. Mind you that the $1000 is a GROSS dollar figure. The $16 million will be fully exhausted with the next check you get, and the cash reserves of CCI are drastically lower because of operating expenses besides salary. Let us not forget the CCI cost of benefits, which was not included in the $1000 paycheck. CCI also pays the same portion you pay to social security. I wouldn't be shocked if they were almost completely out of money by the end of the week. In the meantime, CCI strings along their employees and students...and employees simply take it. At what point have you had enough abuse?
Hopefully you'll be better off in the near future!
Again, good for you. You were able to quit and you should feel awesome about yourself that you were able to. It would be irresponsible for me to do follow suit. Be blessed.
Anonymous14930- Sorry you didn't check the inbox until after it was too late. Did you miss the memo about vacation reduction, back in 2012. In what June 2013 it was announced that there would be no merit pay increases. Then there have been various layoffs. That's not to mention all the hazing that's been going on. Did you notice that many good workers are gone? Again, sorry you didn't get the memo. Not only that, but I've been sounding the air horns for some time here.
14923...you're the one telling me to quit. I missed your "prepare for this memo". So, when I am ready to walk away I will. In the event there is nothing to walk away from, I'll collect unemployment. My resume is out there. If being unemployed on purpose was an option this conversation would be unnecessary. I am glad for you that you are in a better position than most. I on the other hand need an income. Thanks for understanding.
I know the stock price went from $20 to $2, but my manager said everything was fine.
Anonymous14918- I am not the one who suggested everything was ok. Quite the contrary! I was the one suggesting that you prepare for this. So your preparation was suggesting living with me at the 12th hour? LOL!
I guess people will only stand up for themselves when it is easy too.
Your vacation will NOT be paid out when you are laid off or quit. That is the change that happened 4/1 when they changed our vacation hours, etc. I am 100% sure of that. We were told that by an SDOC when it happened so don't count on being paid for that. Sorry.
ok 14891...what is your address? My family would like to come and stay with you in this trying time as I quit my job tomorrow for being lied to by the corporation that employs me. You good with that? There are 4 of us. Thanks.
LOL....you are talking to a CCI employee!!!
"We all been told over the years the company is doing well." Did you ever look at the financial statements?
Make them extra cash that is funny. They are now under the government eye. The $16 million was federal government making sure we get paid and get everything in order. I rather know what is fully going on instead people like yourself 14889 and 14899. Show us the facts. The other stuff people are spreading is not helping. We are all man. We all been told over the years the company is doing well. So far everything been share and read did not talk about vacation pay. Just glad we are getting pay right now. We will find out soon in enough. Public trade school. You must declose the fact to public and stock holders not rumors
I agree that the limbo of not knowing is hard. However if you are a full time employee the smartest thing is to wait it out and collect unemployment. If you are in academics there is a slightly better shot of staying employed.
Since we were switched to lump-sum vacation 4/1 (versus accrued), do we not get paid for those hours when we get laid-off?
The $16 million is for the most recently passed payroll. There isn't any more cash after that. The blind hope is really upsetting.
Do you know something we don't? Have access to documentation that we don't? If so then please share otherwise it is all conjecture.
It makes me mad they don't stand up for themselves.