Here it is:
Date: September 11, 2014
To: All U.S. Everest, Heald and WyoTech Employees
From: Jack Massimino, Chairman and Chief Executive Officer
RE: Company Furlough
We are making steady progress toward the sale of our schools, and hope to be able to announce agreements with purchasers during the next few weeks. None of our progress thus far would have been possible without your belief in our mission and perseverance in continuing to serve our students. You have absorbed salary reductions and managed with fewer staff and lower budgets, and kept our schools and operations functioning as smoothly as possible under incredibly challenging circumstances.
Although we have made many sacrifices, additional cuts are necessary to help fund operations until the sale of our schools can be completed. Among several actions, we are implementing a brief furlough (or unpaid leave of absence) for all U.S. employees other than campus faculty. Faculty will not be included in the furlough so that they can continue to serve our students.
Your furlough will work like this: Employees will be required to take one full workweek (from Sunday to Saturday) of unpaid leave either the week of Sept. 14 or the week of Sept. 21. To minimize disruption to students and operations, all furloughs must be scheduled and approved by supervisors or campus presidents. Since this furlough is designed to minimize cash expense, you cannot receive vacation or sick pay for your furloughed leave of absence. Also, if hourly employees have already voluntarily contributed unpaid days off prior to this announcement, they may count those days toward this furlough.
During your furlough week, you are not expected or permitted to perform any work whatsoever (including checking email or voicemail). Before beginning your furlough, you will be asked to read, sign and return to your supervisor a memo from Jim Wade informing you about the furlough’s details.
The decision to implement this furlough was very difficult, and we deeply regret the hardship and disruption that it will create. If you have questions about the furlough, please ask your department head, campus president or HR representative.
Thank you again for your continued support as we work toward the sale of our schools. I will keep you posted on important developments.