There was a massive nationwide layoff at 133 ITT Tech Institutes Friday, July 15, 2016 in the Recruiting Dept down to only 2 remaining reps from Dept sizes of 5-17. Budget reasons for Deposits, reserves needed for Department of Ed to pay back Student Loans. Initiated back to charges, the push to eliminate non-profit schools, and accrediting body ACICS not having licencing renewed coming up.
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Believe me, the layoff was massive. It happened to us today at ITT Torrance. Out of 12 Reps. 2 stayed.
Depends on what "pretty good" means to you. Do you really think a Company that is so Asset and Revenue strapped that they had to lay off this many people so abruptly, would be willing to give those employees severance pay for what they are really worth? The Feds wanted the Company to post $120 Million in assets as a reserve in case they needed to repay student loans. Which they cannot come up with. Besides, the ACICS is ready to crumble anyway. I am happy to have received a severance, but it's never what your worth. It is to bad the company had to rid themselves from so many of their real "true assets", their loyal employees and students. The loss of so many good employees will quickly trickle into poor customer service for the existing students, hence the eventual loss of existing and potential new students.... (The Company's "REAL ASSETS") What a vicious Cylce! I just wish all those employees who made it after this first wave of layoffs GOOD LUCK. And not to forget all the 40 thousand students attending who put their money and trust in this Company.
What type of severance package did the reps receive? i heard it was pretty good
The California Campuses followed suite today. We read the blogs this weekend and we knew what was in store for us coming into work. Not a good feeling after 16 years of service. A lot of good people were let go today.
I am one of the many reps laid off on Friday, July 15, 2016. 3 reps were kept, 12 were not. this is nation wide because i personally know reps in other states who's campuses were "restructured" as well. Hundreds of hard working people were tossed on the street.
I worked atbtye campus in TX and yep massive layoffs. 15 out of 17 recruiters were lays off
Post a question on the ITT Tech Facebook page. Ask why recruiters have been laid off at campus X.
I know, as well, this information is basically correct, having been told as much this past week by top level campus managers.
For verification, try reaching Nicole Elam, famously evasive ITT-Tech spokesperson. Seriously. She never says anything of value in press releases, but several articles I have read in the past quote her emailed replies to requests for information.
She will point fingers of blame at various government agencies and individuals, but she won't literally lie and say no lay off the past few weeks! She might welcome the chance to spew her vitriol.
ESI was unusually forthcoming in their 8K SEC filing, warning they were doing something historically different with recruiting, so it seems they would admit to the obvious about these layoffs.
Everyone at the 130 campuses across the country knows these layoffs happened, the recruiters aren't bouncing around in the hallways delivering their sales pitches, it's no secret.
A reporter could make some phone calls. Maybe start calling the offices of the schools in the states mentioned here. The layoff is real.
They came in to pick up their last check today.
....did they have to do another boardroom first?
Is any of this really unexpected? ITT-Tech is a train wreck in slow-motion, tumbling along spewing wreckage in its wake, still seeking the lowest point where it will inevitably come to rest. And the government and taxpayers will be expected to deal with the former students and employees bleeding on the wayside, while the CEO escapes to China.
We lost 3 reps on Friday. They came in to pick up their last check today. That was not something that was setup overnight. It had to be planned.
This is not a rumor. I actually work at one of the campuses.
No, David Halperin has not written about this yet, because there's no evidence that it actually happened beyond a series of posts on an anonymous message board. I'm not saying it didn't happen, but there will have to be some serious digging done before this can be reported in the media. That said, you could report that "there are rumors of massive layoffs" or something like that. Halperin did seem confused by the wording of ITT Tech's latest SEC filing, which seemd fairly clearly to point to a restructuring of the student recruitment process achieved in large part by layoffs--exactly as these posts claim.
In yet more discouraging news, the stock market is bullish on the changes, if they know anything.
Has anyone in the media picked up on this story?
you are right my friend
The fate of the company is the better question. The company deserves to go under. Hopefully it will.
If there was any real justice Modany would see jail time.
"...............and did work relentlessly to be honest and true to students and loyal to the company!"
Not possible. If anybody was "loyal" to the Modany regime then they were not being "true to students".
Many academic staff were "true to students" but they also saw through the corporate bullshit and fraudulent logic behind Carmel's many demands.
"Not fair to punish the ones who always stood up for the company and did work relentlessly to be honest and true to students and loyal to the company"
....that is simply not how ITT operates...hundreds (if not thousands) of deans, chairs, DOR, DOF, reps the past 5 years. Their way of improvement is to fire & hire, hoping to find success, almost like a gambler throwing dice.
I'm currently a CSS at a potential small market school, what do you think will be the faith of my position?
South Florida lost all but 3 or even 2 (plus the Director of Recruitment), depending on the school location and the size of the school. 2 weeks earlier, almost 100 schools in the nation went 'small market', losing key managers and some other people working for students and for the company in good faith for years, if not centuries,
Why did it come to this massive scenario in the last second? Not fair to punish the ones who always stood up for the company and did work relentlessly to be honest and true to students and loyal to the company!
The "stronger" schools got to keep 3 representatives. My campus being one if those "stronger" schools. Located in Texas.
ITT Tech has a student newspaper now?
"There was a massive nationwide layoff "---what makes you think there was a massive layoff? I would think the "strong" campuses would still have plenty of recruiters badgering everyone with phone calls to enroll.