Heard wages will be restructured. FA capped at $35,000 same for AA and ERs at $35,000. ACC/QC at $11/12 per hour. No addition pay for degrees/certificates earned. Restart on vacation and waiting period on medical. I have not heard anything on management pay. I am sure news is coming so employees can move on and reduce the need for layoffs and save Apollo layoff packages.
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One memo from upper management on wage agreement in buyout would end the decision
When or what month is the wage restructuring going to take place/effect ? Where did you hear this from? How true is this? Please respond asap. Share your thoughts anyone?
Look, all anyone needs to know is that when the time comes you are fcked. This company and the soon to be new company do not give 2 shts about you the employee. They simply do not care. All they care about is money, the dollar signs. Everything else is an afterthought.
They are way ahead of you. This was in the works a year ago. Why do you think they changed the titles of your positions. When the time comes, they will give your positions a new title once again and eliminate the old ones. Don't buy into that crap that it was a state specific thing. It is that simple. Why do you think there are no more executive positions. Changes are coming and there are loopholes around every one of these laws. How do you think the school has managed to exist this long. By exploiting loopholes and taking advantage of a population of poverty stricken people. AZ is a right to work state and they can fire you for anything they please. All they have to do is call it a reduction in force. Don't kid yourself.
Go to the SEC filings and select mergers and acquisitions for 2016 from the drop down box
http://investors.apollo.edu/phoenix.zhtml?c=79624&p=irol-sec&seccat01.1_rs=1&seccat01.1_rc=10
Then you can search on 'employees' or 'continuing employees'. I found this paragraph:
6.10. Employee Benefits.
(a) Parent agrees that, during the period commencing at the Effective Time and ending one year after the Effective Time, Parent shall provide, or
shall cause to be provided, to each employee of the Company and its Subsidiaries who is employed as of immediately prior to the Effective Time (each, a
“Continuing Employee”), (i) base salary or base wage that is no less favorable than the base salary or base wage provided by the Company and its
Subsidiaries to each such Continuing Employee immediately prior to the Effective Time and (ii) annual incentive opportunities (excluding (1) equity or
equity-based compensation and retention and change in control awards and (2) any Company Plan that is not in compliance with applicable Law) that are no
less than those provided by the Company and its Subsidiaries to each such Continuing Employee immediately prior to the Effective Time. Parent agrees that,
during the period commencing at the Effective Time and ending on December 31 of the calendar year in which the Effective Time occurs, Parent shall
provide, or shall cause to be provided, to each Continuing Employee, retirement, health and welfare benefits that are substantially comparable in the
aggregate to those provided by the Company and its Subsidiaries immediately prior to the Effective Time. Parent agrees that, during the period commencing
at the Effective Time and ending on December 31, 2016, Parent shall provide, or shall cause to be provided, to each Continuing Employee, severance
benefits that are no less favorable than the severance benefits provided by the Company and its Subsidiaries immediately prior to the Effective Time. For the
avoidance of doubt, Parent’s obligations under this Section 6.10(a) are subject to such Continuing Employee remaining employed by the Company or its
Subsidiaries.
(b) Parent shall undertake commercially reasonable efforts to (i) cause any pre-existing conditions or limitations and eligibility waiting periods
under any group health plans of Parent or its Affiliates to be waived with respect to the Continuing Employees and their eligible dependents, (ii) give each
Continuing Employee credit for the plan year in which the Effective Time occurs towards applicable
To "Still employed...for now". I only found these two links:
http://investors.apollo.edu/phoenix.zhtml?c=79624&p=proxy
http://investors.apollo.edu/phoenix.zhtml?c=79624&p=irol-sec
I think the records of the sale (for stock holders) had a chapter on the sale and the protection of employee salaries/benefits. Anyone have access to it?
Do you people really think management would keep you in the loop? Get real! Nothing but scum running this place.
Where is the proof it will not happen? A simple memo from upper management would clear this up.
All this information and yet still no real proof that any of these claims are true. I'm not saying they aren't true since this is a common practice when mergers occur.... But I still ask the question where is the proof that this is the direction the University is going?
The cap being 35k. Seniority will start at scratch to make everything fair across the board. Starting around 24k and capping at 35k. We can hire people with Masters degrees from reputable schools for $14 to $15 an hour. What is funny is that we have been told to exercise extreme caution if hiring for profit grads. We should look to make sure at least one of their degrees is from a state college, state university or private school which falls in a tier three rank or better. Basically they don't want the company stacked with idiots throughout any longer. Lower management is to heavy with them. These people will all be replaced. Their cap will fall between 38k and 40k.
"Mergers can change salaries" makes a good point below about FTF and their degree status. I can see them keeping Ph.Ds, at least in the short term since terminal degrees look good on paper. The same might be said for heavily published faculty since they're getting the university's name out there.
It makes me think of the countless emails asking us to update our credentials and scholarship on our faculty profile. That push had to be for something.
Not only can salaries be reduced, salaries WILL be reduced. No company is obligated to pay any more then minimum wage, unless you have a collective bargaining agreement (which UOPers don't). Only an idiot would say salaries can't be reduced, probably a Phoenix enrollment rep.
Do some basic research people. Anytime there is a merger, there are massive changes and this includes salaries. For FTFs I would bet that those without a doctoral degree will be either laid off or moved to associate faculty.
http://www.timesunion.com/business/article/Wages-benefits-shift-after-merger-4639652.php
http://www.payscale.com/compensation-today/2015/09/how-to-manage-compensation-questions-during-mergers-or-aquisitions
This is false.... If a company is sold, they can't lower your income. However, they have the right to restructure benefits... Salary is protected... If they try to change... This new company will have quite a bit of lawsuits already
Has any of this come from a credible source? I keep hearing this same rumor but am not sure I believe it.
@camden-- not sure on the FTF numbers. Each CCC manages around 25 or so. Maybe 60-80 for each class code (GEN, HUM, ENG)?
Feel zero sympathy for anyone who stays at a company they know is basically screwing people bover. You are part of the problem not the solution. I left years ago and predicted all of this. The excuse a check is better than nothing is a way to brainwash yourself of taking responsibility. Own your decisions and stop crying move the hell on !
Heard the exact same thing. Some even get to interview for their jobs again. Lower level managers will be knocked back to 38k across the board. Early August is the word.
FTF, I am also an FTF...feeling very nervous. Do you think they would get rid of all of us? It's hard to know what's going on since we're not there. I assumed the lack of a conference was a cost saving measure, but you're right that suddenly we haven't heard anything about projects that were important a few months ago. I am sure there would be adjuncts eager to teach our classes.
@FTF?, how many full-time faculty are there at University of Phoenix?
Any word on how the restructuring will impact full time faculty? Will the FTF program even be continued?
There is a lot of speculation. No word from upper management since early December, FTF conference was cancelled, local FTF were laid off and weren't offered jobs as online FTF, team meetings with CCCs were suspended, plus huge changes are coming to the courses the FTF teach (as shared in the GFM for the CoHS). From my time in the corporate world, this lack of communication is a common sign of a layoff, as is the suspension of once-critical projects (the rubric project, GTA for FTF, and the FTF evaluation form all come to mind). These are scary times! Most colleges on a 9 month schedule have already completed their hiring cycle for fall. If the axe will fall, FTF need to know sooner than later.
Does anyone have any word on when all this is suppose to happen? Are we looking at months or weeks ?