Reason? It was easier to bring in new people to train in the way they wanted things done. New owners wanted there people in and yes, that meant a full house cleaning of the organization...and I mean full house cleaning. Rest assured, no new buyer (which there isn't) wants to un train CCI habits. If you think your job is so valuable to a new owner, it isn't. All of your jobs can, and will be taken by current ECMC staff or a new hire, making 20-30% less than you. Investors know that taking over a garbage company in a turnaround takes a lot of time and they will incur losses, that is why they start it over from scratch. Your jobs are not complicated, and will be easily taken by people that don't need to be untrained (but no buyer exists anyways).
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I lived in Phoenix when that happened and was hiring for a couple SF positions. I remember getting LOTS of resumes in. There were some really, really good candidates and I had my pick. Pretty scary now that I'm going to be on the other side.
747, people have insisted that because of IT processes, the 3 CCI schools cannot be separated. I don't know if that's true. But if it's true, selling all schools as one package is really un feasible. And ECMC seems only to (possibly) visited Everest schools. Anyway, it doesn't matter. Rock keeps ticking and that's not good news.
723, Don't know. SOCLE is never mentioned in internal emails. I only heard of it on this board.
Anonymous34723 - Socle could be broken out and sold, like just selling Heald to one buyer. The problem is more the business ECMC is in. If they are interested in Socle, it will be to run a sweatshop, not expand into a new business. It would be all call center work that they can get for cheap, at least in Tampa. I'll bet the mall is pretty cheap space as well. They'll be looking for a cheap location and cheap employees.
715, very well said. It seems from some comments earlier on this board, that managers are actually telling employees that nothing is going to change, that even if they don't sell, they are just going to rebrand and keep doing what they're doing. It's ludicrous to think that managers are telling people that, given the state of affairs and documentation that proves otherwise. Actually, it's quite cruel to give people false hope. When the crap hits it, there probably won't be severance. It also sounds like they might be gearing up to fire people with cause so they can fight unemployment. In the meanwhile some of these managers that are giving false information are probably getting a bonus to stay until the end. That is not uncommon in this type of situation. That people are doing that to themselves is hugely irresponsible. And sad.
What about those of us at Socle? After all, we are a different entity and it would appear we are more favorable to ECMC than the schools are.
CCI has long had a hiring model of hiring certain demographics that can be controlled 100% for a certain salary. This model has worked for CCI, for the most part. The problem for CCI is when the economy soured and they were able to hire smart professionals for cheap. Those people didn't last long due to the unexpected inquiries they made regarding CCI practices. So, what generally remains at CCI now is the core CCI employee: someone who knows they won't make anywhere near what they make anywhere else. So, naturally, they hold on to false hope because they have been overpaid for years, given their marketable skills. Equilibrium will set in though, it always does.
Everyone keeps getting excited about these campus tours. Even if they do manage to sell some schools (they won't) they don't seem to get that it's done. It's over. There are no guarantees of new jobs. Why everyone seems so hopeful is beyond me. We are broke and we are closing. I'm moving on.
I remember reading about GCU years ago. They were a traditional university whose only problem was they were going broke. No compliance issues whatsoever. When the owners came in, they decided to just rebuild the entire operation from ground zero, literally. New management, new outlook, new everything. In any purchase of failing entities, investors look at the future, not the past. The past is a failure, and they always cut the failure out, sooner rather than later. With the amount of unemployed people, they will have no problem finding people to take over jobs at a significantly reduced salary compared to CCI reps. It's smart business.
Well said, OP.
Let's not forget that even with a 10% paycut, CCI schools pay (in many departments) higher than average in the field. I agree with you. But even if they did keep some employees on, they're going to offer a paycut and fewer benefits. It won't go back to 'the good old days.' Those days are long over.