Home office lease is up this year.... does anyone know what the plans are? I'm assuming they wont stay in Scottsdale because of the cost. Any info on where they might move Home Office?
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Topics regarding layoffs at Universal Technical Institute Inc.
We all know they are coming, but what time frame are we talking about?
Dismal numbers. UTI is truly on life support. I can't imagine how unbearable it must be to be a UTI rep and a financial aid advisor. The pressure must be extreme. Reps enrolling students, and financial aid advisors pressured into acting like... read more
"Lower student population levels as we began 2018 and fewer new student starts during the period resulted in a decline of 5.2% in our average undergraduate full-time student enrollment to 10,823 students for the six months ended March 31, 2018. We... read more
"The Transformation Plan will also include an incremental internal net investment of approximately $4 million for additional marketing campaigns and new resources in marketing, admissions and support services in fiscal 2018. The incremental costs... read more
Wow, are the top execs planning on doing away with health insurance and retirement? If so, that is extremely sad. I for one and glad I left before all this went down. Out of Rancho and I couldn't be happier. I think my last day of work there was one... read more
Our campus is finding ways to cut expenses. It was decided to stop buying the lens wipes for the safety glasses, you know the safety glasses that are required by everyone in lab. We'll be saving sixty five dollars a month, times twelve months equals... read more
So here we are another loosing quarter, fewer students , empty classrooms and building a new campus. Since 2010 we've gone from 18600 students to 10900 at the end of 2017. That's a loss of 1100 students a year, and I don't even have a business degree... read more
Operating loss for the quarter was $3.6 million "Fiscal 2018 average student population is anticipated to be down in the mid single digits due to a 6% lower beginning population and the timing of the low single digit start growth expected for the... read more
Expecting lower enrollment for 2018 and still spending 11 million dollars on a new campus. What in the hell is wrong with these people? Kim McWaters and her bunch of dopes have ruined this company. But we can rest easy knowing all of the senior team... read more
Another losing quarter, even after cost cutting. https://www.marketwatch.com/story/universal-technical-institute-reports-fiscal-year-2017-fourth-quarter-and-year-end-results-2017-11-30?siteid=nbsh
With the announcement of WyoTech shutting down that should help UTI. Those 400 students that would have enrolled in WyoTech need another school to take their money. Hahahaha
Don't look for President Trump to bail out UTI. There's much more money is making matters worse. Disasters=bargains. https://www.linkedin.com/pulse/trumpdevos-college-meltdown-defund-deregulate-dahn-shaulis
Does anyone know the current health of our company. Our lead situation is the worst I have ever seen and there is no way to sustain a company with this type of lead flow. Any word of layoffs?
In terms of finances, UTI is still losing money, but they are close to breaking even--at least on paper. New enrollment, however, is dramatically down (-17.4% for the quarter, -22% for the last 6 months)... read more
Loss of $1.7M. Total starts down (from 1800 to 1400). Total enrollment down (from 12,300 to 10,800). "UTI now expects new student starts to be down in the high-single digits." Tuition increases expected to make up for declining enrollment. "Financial... read more
UTI will need to have some good news for its shareholders. If their enrollment is down again, and they are losing money, they will need to further reduce labor costs. RIFS also give shareholders more confidence. The earnings call is scheduled for... read more
WyoTech fails miserably due to poor education and a high percentage of teachers that are paper whipped into teachers, they employ half of MMIs misfits from past times and it still continues. They leave one and go to the other only to share antique... read more
Victory Media has named UTI a Military Friendly $chool. Since Victory Media has a "pay to play system," I wonder how much UTI paid for the designation... read more
(1) What does UTI call its private (institutional) loan program? (2) What is the interest rate on UTI's private student loans? (3) What is the default rate on UTI's private loans? I know UTI can write the loans off, but ED was not happy with... read more
Enrollment down from 13,200 in September 2015 to 12,000 in September 2016. 88% student employment rate Staff (notice that they cut FT instructors first): (2016) 1,880 FT employees, incl 590 student support employees + 670 FT instructors (2015) 2,020... read more
UTI's earnings conference call is November 29. Developments since the last quarterly call are: (1) removal of the CFO (2) resignation of a Director on the Auditing committee (3) information from ED regarding programs that are failing or close to... read more
Home office RIF. Guess we're getting an early Thanksgiving break.
Today is rif day
Well today was not a good way to star the week. UTI stock dropped to 1:51 per share and closed at 1:56 per share. They had 805,756 shares moved today.It does not look real positive for the Company.
"The Scottsdale-based provider of automotive technician training reported a $5.1 million loss on $82.3 million in revenue for the three months ended June 30. That compares with $3 million in losses on $85.1 million in revenue during the same period... read more
Well it appears that the stocks have taken a bad turn. Today so far has dropped to 2.28. Friday they had 1.84 million shares change. They had to turn to Hedge funds. The have an additional 70 million dollars but it does not seem to be helping. My... read more
From yesterday's earnings call: "As a result, we've started to selectively scale back on our spending and marketing in admissions and this work will continue. At the same time we remain focused on operating our campuses efficiently as possible and... read more
"Our employment rates for 2014 and 2013 graduates were 88%. The employment calculation is based on all graduates, including those that completed manufacturer specific advanced training programs, from October 1, 2013 to September 30, 2014 and October... read more
If you want the media involved, you have to present a compelling story. The truth is, there were lots of stories in 2014 and 2015 about bigger schools, such as Corinthian Colleges (Everest/Wyotech/Heald), ITT Tech, Devry, and University of Phoenix... read more
Paying them based on graduation rates (which is what they used to do) but in no way has any control over, is completely unethical. Yes let's continue to force the students to PAY for education that doesn't warrant the tuition!
"The way you treat your employees is the way they will treat your customers." "Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients." -Richard Branson
Wow....stuff like this doesn't happen to healthy companies. UTI just admitted they are screwed, in my opinion. Demolishing the quarterly dividend from $0.10 per share to a mere couple copper pennies is not the way to reverse the share price slide.
UTI is starting a new campus in Long Beach. I know there is a community college program in San Diego. Wyotech is (or was) struggling in Cali... read more