David Halperin and I have seen similar scenarios with for-profit colleges in decline. They are bought and sold, but the direction is the same. Going private only makes the organization less transparent for students and workers. At Corinthian Colleges, they hired Marc Morial and Leon Panetta. When Corinthian Colleges failed, ECMC, a predatory lender, bought the company in a fire sale and named it Zenith. David Hawn and Troy Stovall were supposed to be saviors--but they weren't. With University of Phoenix, it's vulture capitalist Leon Black and a revolving door equity man, Tony Miller who are lauded. The truth is, UoPX has become so degraded that it faces even more problems. The presence of vulture capitalists signals even more layoffs and cost cutting.................................https://www.linkedin.com/pulse/apollo-group-sinking-ship-dahn-shaulis?trk=mp-author-card
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Camden Kid may be irritating but he has been correct on more than one prediction. As a former CCi/Zenith Education employee I was a victim of a government controlled buy-out. Within 90 days of taking over CCi schools Zenith had a massive Reduction in Force eliminating 35% of the workforce Dave Hawn personally invited into Zenith from CCi. That first RIF was followed by three more RIFs that resulted in a total reduction of about 50% of the employees. Zenith continues to close campuses and have so far reduced the number of campuses by 38%. Student enrollment continues to decline which will lead to more closures and more employees being released. My suggestion is, do get your hopes up for a turn around. These people buy out failing companies for only one reason, to make a profit no matter what it takes or who they hurt. When it comes to BIG BUSINESS employees are liabilities, not assets. The first step to reduce losses is to reduce spending. The quickest way to reduce spending is to attack the biggest expense for the company, payroll.
http://blogs.wsj.com/moneybeat/2016/02/10/apollo-education-investors-in-dark-on-key-elements-of-buyout-dealpolitik/?mod=yahoo_hs
@FRN326F-1mlv, management ARE reading and sharing thelayoff with others--all the way up to higher level executives. Now it's up to management to call for a real reverse in course--one that respects students and teachers.
Wait! Do you hear that??? It's the sound of no one caring what Camden Kitty spews anymore. You've been bitching on here for YEARS! get a life sir.