Any ideas as to when we could see rolling layoffs? Just trying to plan ahead for my family and my own career endeavors. We have many back up plans, but I wish I had more of an idea of a timeline.
We feel very in the dark in our department.
Thank you in advance for any insight!
Anonymous32953, you think it will happen though? Do you think "The Center" will be affected?
Anonymous32660- No problem. Glad to help. If you have plans post-EDMC, look forward to them! I don't forsee the severance ending as layoffs continue. I don't think the company as a whole is concerned about paying 2 weeks per year of service. They have bigger fish to fry.
Vacation does NOT get paid out. If you don't use it you lose it. I know that for sure.
In california luckily severence doesn't affect length of benefits
If you have unpaid vacation, you always get that unless the whole company folded completely on the same day. You will get 6 months unemployment if you get laid off, but not fired or quite. You have to report by law severance (they will check) to the EDD. Once you spend that, you will get the remainder in unemployment. You dont get both in full. In other words, if you get 1 month in severance, you will get 5 months of unemployment. That depends on what state you live in, some let you max out both. Don't forget, its ALL taxable income including unemployment. You will be out of work and still owe on close to a years salary in taxes if you get laid off before Jan 1.
A coworker laid off last time got severence and unemployment - however I believe she said she couldn't collect unemployment until she had spent her severence money. You also collect for unused vacation time correct?
Anonymous32766, THANK YOU! All of this helps.
Watch for ends of fiscal quarters, also watch for the end of fiscal year - they typically want a clean slate at period ends
I spoke to my HR Representative and they said that our severances seem to still be in place and that she has not heard of anyone not getting theirs.
There is no guarantee of a severence package. For more details on benefits, check out hr1.
Severance AND unemployment.
ALL of the employees that have been laid off as of late that I know have received their severance AND unemployment.
Severance? Who still gets severance these days, you must be really high up on the ladder. Dose not sound like you are talking about unemployment.
Anonymous32731-Thank you for your input! I'm actually welcoming the layoff as I have other plans waiting for me. But I'm an EDMC vet and worried that I'll be kept forever so they don't have to pay my severance. Or that by the time they DO lay me off, severances will be altered or cut. As unpopular as it may be, I'm HOPING for a lay off in the time frame you mentioned.
It takes 6 months to a year in today's economy to find a new job. I would start looking now. If you get a great offer, but think EDMC is going to be saved by magic fairy dust you can always turn the offer down.
Truth is bone of the fools on this site have any real info. Just a bunch of bums low on the food chain whonare looking to cause drama or are afraid of the dark. If you're on this site for real information, you're looking in the wrong place! This site is just a fun place to poke fin at your cowokers once you see how unintelligent they are! That's the only truth here!
Anonymous32660- I would guess sometime in the next 4-6 weeks. With that being said, I would not recommend waiting until the last minute. Typically looking for a new job takes time, plus you want to find the right fit. If you start looking actively now, there is a good shot that you could find something by Oct/Nov. Keep in mind too that most companies "shut down" their hiring from Thanksgiving through January 1.
My advice would be to plan like you have already lost your job and start looking now.
"stop worrying about when you are going to lose your job" Who says that on a website dedicated to sharing information about corporate lay-offs? This must be the EDMC PR firm posting here again. "Everything is file people, nothing to see, go back to work, smiles people smiles."
The Management tolls on here are really are stupid. Don't pay attention to possible lay-offs and go back to work? Really? You do know this board is called THE LAY-OFF.COM right?
Anonymous32717, what are you talking about??? You sound absolutely crazy. No one was bashing ANYONE! If you read below the conversation was actually quite pleasant and polite.
And people ARE going to worry about losing their jobs.
Your comment was completely pointless.
I almost wish I hadn't even responded to it.
What are the layoff dates in the past 5 years since you think you know them? Prove it. This place can be any day any time. How about we all just work and stop worrying about when you are going to lose your job or bashing people on here. No one knows what's going on, look at the trend of that.
Anonymous32682, thank you so much! I've actually heard that from someone else. I appreciate your time!
Thank you Anonymous32669 as well.
The first quarter of 2014/2015 fiscal year ends September 30. Look for activity involving layoffs between September 15th and the 30th. They (EDMC) have been fairly consistent with layoff coming one to two weeks before the end of each fiscal quarter. It also tracks with the school quarter system. That’s my best guess based on previous cuts.
You can only guess - I've lived through 3, they come out of the blue and even managers in charge of making 'the call' don't know until late the day before. If you have an extra $25 go to seeking alpha or another stock site and get a detailed analysis it might help give you some data to guess by.