Dear Colleagues:
It is with deep sadness and regret that we must inform you that effective Monday, April 27, Corinthian Colleges will cease substantially all of its operations and close its remaining campuses. We greatly appreciate the contribution you have made to the company and the students we have served, especially during the past several difficult months. As you know, we had worked very hard for a better outcome that would have allowed many of you to continue working under new ownership. Unfortunately, we were unable to achieve that goal and effective today your position will be eliminated.
•For all Heald College, Everest College, and WyoTech employees, please join us for a town hall meeting on your campus on Monday, April 27 at 12p.m. local time. For Heald online instructors, please call into 1-(800) 858-3340, Conference Code 1850# at 12p.m. PDT.
•For Everest College Phoenix employees, we will host two town hall meetings to accommodate all of our employees.
◦Full and part time team members will meet on Monday, April 27 at 12p.m. PDT in-person or by phone using this URL: https://corinthian-colleges.webex.com/corinthian-colleges/j.php?J=928303355 with passcode Ecp8800, and this dial-in information: Phone: 1-(877) 544-5570 Conference Code: 753 891 2334.
◦Adjunct team members will meet on Monday, April 27 at 1:30p.m. PDT in-person or by phone using this URL: https://corinthian-colleges.webex.com/corinthian-colleges/j.php?J=920457174 with passcode Ecp8800, and this dial-in information: Phone: 1-(877) 544-5570 Conference Code: 753 891 2334.
You should be proud of the fact that you did a good job for our students. This is particularly true, given the myriad of financial, legal and regulatory challenges our company has faced. It was disappointing that we were never given the due process to refute the unsubstantiated allegations against the company. But you helped us go out the right way – focusing on helping our students find the best possible outcome. Despite the attacks on our industry, we all know that colleges like ours fill an important role in the broader education system and address a critical need that remains largely unmet by community colleges and other public educational institutions.
As many of you know, we made a herculean effort to find a qualified buyer to purchase our remaining campuses and keep the schools open so that our students could continue their education and many of you could remain in your positions. Several buyers had expressed strong interest in acquiring the schools, but, largely as a result of state and federal regulatory actions, we were unable to complete a sale. Our only option was to close our schools and cease substantially all of our operations.
Finally, I would like to thank you again for your service. Your hard work and dedication helped build our schools into quality institutions that have provided valuable educations for our students. We all would have hoped for a different outcome, but we can take pride in knowing that over the years we helped hundreds of thousands of people – many of whom had not previously had success in school – find a path to better lives and brighter futures.
I know it is a very sad day, but I have confidence that your talents, spirit and incredible work ethic will continue to be tremendous assets as you begin the next chapter in your professional careers and I wish you the best of luck.
Sincerely,
Jack Massimino
Chairman & CEO
Corinthian Colleges