Starting with July 11, 2014, there are 13 paydays left this year, 2014. Nothing can be done about July 11, since the earning period ends today. On Monday we know that 12 admissions teams are getting the axe, which will significantly reduce the number of people paid on August 8 as well as reduce the dollars necessary to meet payroll. Monday how many others will get axed? Ok, so some might be on vacation, or call in sick, so those workers would get a paycheck, albeit a small one, on July 25. Beyond that, when will the blood stop? My guess is that the number of workers and amount of payroll in dollars will continue to go down for the next few pay periods. I'm not even sure that CCi can survive until the end of the year.
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Other than the crazy "make 200 dials a day so you will get 20 enrollments and at least 19 starts," at least 50% of admissions could be eliminated. If the admissions reps were allowed to screen the drug addicts and homeless that walk into campus only looking to use the bathroom, some of the demand on FA would go down, and given the current state of affairs, I suspect the number of new enrollments will be going down, which only provides more support to cutting admissions by 50%. And if you are down to 1 person in FA, do you really need a director, or can the one person simply report to the Campus President?
CCI won't survive another 3 months. The last 2 weeks mortally wounded them. They are literally weak to week as far as cash goes, normal title iv funding is over, replaced by a funding mechanism. The national press has reported the news and that will lead to a drastic reduction in enrollment from an already drastically low enrollment figure. I personally would be shocked if half of CCI enrollment reps were not let go by august 1 and the rest by September 1. New buyers for Heald and Wyotech have NO incentive to buy now when they know that in 6 months, they can step in and buy them for pennies on the dollar right before a forced teach out, assuming they even have students remaining. This will enable them to fire the very few CCI staff and rebuild the schools from scratch using assets of the schools. Beyond that, CCI executive management has literally stopped running CCI so they can develop a plan to DISSOLVE CCI. My advice: assume every day you work is your last.
The 12 school that are closing. You said axe admissions. Agreed. You also can get rid of all but maybe 1 FA person from each campus. I am not sure how the rest of CCI works, but with Heald, you have 1 FA person for every 2 admissions people. So, depending on size of school, you are looking at 15 to 40 people gone per school. 15=180....40=480. Lots of people and lots of payroll. In addition, all the bad press will me net starts in open schools will be down. Less new starts means you don't need all the admissions and FA people at open schools or call centers.