The only facts that are known is 12 campuses are done NOW and that, at the maximum, all of them will be done in six months...at the longest. Plan on every day being your last, because it very well could be. Please don't put your hopes in a buyer to keep your job, your job isn't going to be saved by them. ANY buyer WILL clean house of all CCI. No point in worrying about it, you already know it is over. Now, act accordingly.
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18244- I've seen too many forced out, and those didn't get any severance either. The last two rounds of layoffs have not been kind, yet the knife must go deeper.
18234...Agreed. I think the next week will be brutal and inhumane. The ones who remain now will not get a severance and that
alone is rotten. Way to thank the most loyal of service CCI.
18235- Yes, yes! I was in no way disputing that CCi has a serious cash problem. Quite the contrary! In fact, CCi still has not made it the 21 days. First it was $16M, and now $35M. Until CCi makes it the full 21 days so that the daily cash can start coming in without having to beg, there is no way to consistently pay the bills. Even before last month, with such little cash in the bank, CCi was likely already behind in many payments. What I am not sure about, however, is if thinning out the regional and divisional employees, admissions at the campus level (cut that in half or so) would help enough to slow the ship from sinking. I'm not sure if more cuts could be done in finance, but if so, take out as much of finance as possible. All of that said, it is my opinion that the current culture is so bad, that there is no chance. Four months, November, seems like an eternity for CCi to survive at this point in time.
It's never a waste to think about your future. Every day means something.
In a perfect world, 18234. CCI does not have the cash to maintain operations that long. The last 2 weeks mortally wounded them. New enrollments from here on out are going to be drastically reduced from an already drastically low production rate. The cash just isn't there. I frankly would be shocked if one campus is still open in four months. But you two have the right mind set, and that's all you can have at this point.
Slight correction: At the maximum CCi has six months to transfer ownership or enter teach-out, which, depending on location, might buy you another roughly two years, if CCi can survive. But I agree, plan like your last day with CCi was yesterday. http://www.youtube.com/watch?v=ONXp-vpE9eU
Some people start work at 9, some at 11 on Monday... Do they get to learn what's going on first?
.... Good point, staring at these posts gives me a false sense of knowing what's going on