01 - No deal between CCI & DOE. $9 million to stretch a long way. Bank of America probably won't give more dough.
02 - CCI will not announce plan until after the holiday 'cause DOE gave them an extension. They probably don't wanna loose 1.6 billion dollars.
Start letting the students know where the other schools in the area are that have similar programs that "may" take their credits earned. Regional and Divisional leadership, along with Admissions will be the first to go. (no need for a blood supply anymore) Even if they announce in-house teach-outs, the payroll is going to be difficult enough to make with funding being held, so supplies are the least of our concerns. For those of us lucky enough to already have another position lined up with another college, that is exactly what I am doing so that I can continue to teach my students.
They couldn't layoff until the DOE approved their wind down plan. If you remember that was part of the deal to release the 16 million, CCi wouldn't disrupt the students or employees. The amount of layoffs will probably be included in the agreement between CCi and the DOE. As we all know, CCi is almost broke and no one will loan them money. There is no way they can survive another 3 months let alone 6 months. There will be huge cost cutting in the plan to wind down. The problem is they still need to purchase supplies and curriculum for classes but most vendors have cut off their credit. So how can they teach out without books and teaching aids and still be productive to the students education?
I would have thought the next round of layoffs would have happened before today.
CCi is not required to announce until after July 4, even if a deal was reached.