This is how Apollo Global Management makes money, as a vulture firm. That means that they will reduce costs as much as possible, including labor costs.
http://www.latimes.com/business/la-fi-hostess-gores-20160705-snap-story.html
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I'm not management, Camden, I'm just another worker bee trying to earn a living to pay the bills. You might want to add the "management" tag to everybody that disagrees with you and points out the obvious. Companies that don't make a profit go belly up. This isn't about greed or movies but reality.
In any case, the point remains that if a person doesn't like to work for Phoenix, then that person can look for another job somewhere else. It's better to have a job than to be unemployed.
@IfxnRGV-1cso, you sound like management, the management that destroyed University of Phoenix with its actions and complicity:
the management that subscribed to Gordon Gecko's "greed is good."
the management that took orders blindly and didn't ask enough questions.
the management that was too afraid to take workers' concerns up the chain of command.
and the management that was dirtier the higher it went up the chain.
You are right that no one is forced to work for UoPX, but for many it was the highest wage job that many people could find.
I assume some employees will quit because they can't take the harassment. And if you can't harass enough people, you will have to fire people.
Can you tell me what the strategy is to get people to quit? Why should employees quit, other than for moral reasons (they can't be a party to deception)?
FYI: University of Phoenix gets most of its money from federal student loans, Pell Grants, and GI Bill money--"government funds that are supposed to be for the good of working class folks, including veterans.
Camden,
It's either Apollo Global or BK. In its present form and structure, Phoenix isn't a viable company. It was the same situation with Hostess. If a company closes down completely, all employees will lose their jobs. It's preferable to have some jobs than not to have any.
I realize people like yourself prefer to see everybody unemployed and living on government handouts than earning a living. If people don't want to work for Apollo Global, or for Phoenix, they can work for somebody else. Nobody forces people to work where they don't want to.
Who doesn't like a Ho Ho or two? Most of my students were sloppy hos.
Get lost Camdum. Everyone despises you. Such a whiny biotch.
Have heard from people in the room regarding the 1 year clause on wages. I haven't seen the agreement, so I can't say for sure and I don't necessarily trust much these days. So...there you go. And also heard that the wages they are looking at leveling in the future has to do with folks making crazy amounts for their role. E.g., reps making 100k+. Honestly, nobody knows for sure. But thought I'd share what I heard.
You only have to look at what ECMC has done to the Corinthian Colleges schools and employees. Reduced campuses by 60% and employees by close to 75%.
More on Leon Black and Apollo Global Management. I wonder if Apollo Global will be as patient with University of Phoenix. I believe there is a clause in the merger agreement that keeps wages up for one year.
http://americawhatwentwrong.org/story/New-company-takes-over-new-reality-sets-in/
They reduced Hostess' labor force from 18,500 workers to less than 2,000. Want any more examples of how Apollo Global Management works?