Thread regarding Corinthian Colleges Inc. layoffs

Yeah, Jack's raise in light of employees not getting one makes me sick to my stomach. At my last company, we did not have raises, but had a quarterly bonus program. All employees were eligible - part time, full time, hourly, salary, it didn't matter. And if the company made its goals, everyone got their bonus. I loved that system, it fostered teamwork and was very motivating. And fair.

Yep they basically set some B.s. goal so they could justify getting a bonus.

And don't forget our CEO GOT A 5.6 pct raise. While they told US they could not provide raises or bonuses. They have been planning to close anyway. Keeping US in the dark while they cash in.

"The company's compensation committee set up one incentive that would reward staff if COCO reported operating income of $50 million and if the company's executive compensation committee concluded that the company had met a "regulatory compliance gate."

Guess what? COCO reported $51.5 million in operating income from operations for the 2013 fiscal year." !!!!!

"Thus, the operating income and compliance gate standards were deemed to have been met. In fact, they found that expectations were exceeded by 119 percent.

At the end of the fiscal year 2013, Massimino was rewarded with a bonus of $1.035 million. The same incentive system paid out target incentive awards of $1.4 million to four other executives."

So they set a goal, we reach it, execs get bonus and we get no raise Dec 2013?! WTF. I get it if there is no money b/c we missed a goal, but we reached the goal they set.

They also need to be covered on America Greed.

Finally, someone who understands the article.

I remember 1 year ago before end of FY13, the campus president informed all staff employees that all merit pay raises, bonuses, and promotional pay increase were suspended. Now I see where all that money went: paying off lawyers so the CEOs can get their share of the pie. Absolutely unfair. This historical event should be a part of Heald/Everest/Wyotech's classes' curriculum - forget a college degree from CCI or any proprietary school, throw everyone under the bus to save yourself.

I listened to the investor call, and I must say that I found it quite interesting.

That explains nothing.

Nobody knows what will happen. Your not knowing is no better than anybody else's not knowing, however. So until you know, piss off. It's just a guessing game.

Please don't generalize I am a CCi employee and believe 3) the company may have 6 months~ get resumes out and find something else before it goes away.

Most current employees believe one of two things will happen:

1. Cci will get bought and new Owners will retain most employees OR

2. CCI will re-brand and become a marketing company and most employees will be retained.

So "sailing down the Nile" in either case. I do not buy either scenario. Don't know What will happen.

You can post the facts and the writing will be all over the wall, but some people will be in denial until the end. It's funny how some of you are trying to convince these robots to open their eyes. Some people have to learn the hard way. Don't wast your breath on them. They probably are not prepared or too scared to leave. I would just focus my energy on my career path and exit form CCI. They have been warned, it has been pointed out in black and white and some of them will still act like a deer in the headlights. Robots waiting on Executives to tell them everything is going to be ok. Leave them alone and focus on the people who have faced reality.

The ones that are not in denial should help each other and network and provide references. Let the robots deal with the robots.

This is from May 6 BEFORE the DOE put the Hammer down. Did your boss tell you there would be no raises or bonuses? Well the executive level sure got theirs. I don't feel bad for them, but I do feel bad for the other employees and the students. Nobody should wish bad on the. Now some of you sound brainwashed and programmed and you should know better. This company was in a boat load of trouble way before DOE delayed those funds. CCI screwed themselves! Executive level doesn't give a $hit about you. Wake up and smell the cafe con leche!