When an AVP and a VP of Academic Affairs are rumored to "retire" in Aug. you know something is up. Can you say rats leaving a sinking ship? All of this after trying to ram through a re-structuring of curricular contact hours/credit hours for "less" cost to the students.
The layoffs should have started at the top...they are the most useless and highest paid that just play musical chairs on executive boards.
EDMC’s (Argosy’s) off and on emphasis on graduate education has been a running joke, they created an especially toxic relationship with ground schools by mixing online management. They held on to the Phoenix growth executives too long and did not build roots like a real education institution does. It is going to be an ugly crash given that the compensation lawsuit is going forward; I have no idea when/if this gets to court how they will be able to separate the base salary rise for an Admission Rep with the amount of students that he/she enrolled. It’s a losing and expensive proposition they should have settled long ago.
Well students are on break Friday. I think they wanted to get them out of the schools before they start the round up and walk out of the staff and teachers by security to their cars after they give them the AX nation wide! Lets be honest, 250 people are not going to produce $450 million in new earnings. They are going to have to close about 25 schools and layoff about 5000 people if they want to make a major turn around and some profits. That may not even save them.
They also said during the last layoffs they didnt foresee anymore, but we see what happened here...
Let's see how low the stock goes when the end of the year earnings come out. Don't worry though top execs will still make millions.
Are they still broke? Then they're not done.
Hahahahha.... yeah. Trust. The top leaders don't even know what's going on because they're on the chopping block too. Directors being let go left and right.
Yes. That is what to top leaders said. I really trust them.