AI corporate is moving several blocks from the downtown office into the pittsburgh campus building. The campus has shrunk some due to enrollment and several floors are "offline", It looks like they will be bringing around 70 employees and will be sub-leasing their old space downtown. The move is scheduled to be completed by October.
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In part you can blame Dana Garcia for not completing the a deal for the corp office. No wonder he's no longer an employee. Thanks for watching out for us; best of luck at Highmark.
Oh, sublease a portion of your already leased building. This in an effort to realign and consolidate the working groups so as to effect maximum proficiency and obtain the square root of the hypotenuse of the parabolic vector that will help us intersect with a yet to be discovered nexus between the reality of the marketplace and future unforseen challenges and vagaries of life on yet to be discovered areas or revenue that may help us conclude that one can be endlessly full of shit as long as the paychecks don't bounce into another dimension of anal irresponsibility.
http://www.bizjournals.com/pittsburgh/news/2015/07/24/edmc-looking-to-sublease-a-portion.html
How demoralixing it must be leaving the black marble floors and move to a buiding you sold to make payroll at one point in time. Then your spin doctors manipulate the numbers saying you turned a profit this year. I wonder how many cubicle moves are coming in the future.
Most, if not all, of the Ai corporate presence on 6th Avenue has been concentrated on one floor. They've been reshuffling and consolidating floors there for quite some time. Mick doesn't even have his office up with the rest of the executives, and hasn't for a few months at this point. With the number of layoffs at both corporate and AiP it makes sense that they would be moving back to the ground school. It's a cost saving move that only makes sense given EDMC's current financial situation.
What do you mean by "spun off"? AI does not own the AIP building.
The move may indicate that the Art Institutes will be spun off at some point. What other reason would there be to just move 70 Art Institutes management. I worked in that building for many years and currently it could easily support two times the number given…maybe more.
New England ai student discussed in bloomberg article today regarding debt forgiveness
www.bloomberg.com/news/articles/2015-07-22/taxpayers-could-lose-billions-as-u-s-students-escape-loans?cmpid=yhoo
When you say enrollment, what numbers are you referencing? Without the hapless suckers no money just more debt.
The lease is up on the AIP campus in less than two years. They sold off the dorms. Too early to say perhaps but a temporary (cost saving) move until a relocation or even closure? It seems hard to believe with the dwindling enrollment AIP will stay in that building.
They will be keeping some space at the 6th ave building however folks at corporate under the ai brand will be re-locating.
There may be some shuffle of folks to the strip district too.
Are you saying that only 70 people currently work in the EDMC corporate building?