Thread regarding DeVry Inc. layoffs

Additional cost cutting ahead

Looks like DeVry found a former Apollo Group executive for the professional segment. Any ideas about what that means? And the numbers again look really bad for the "traditional segment."

Fourth quarter segment revenue decreased 21.3% to $136.3 million. Revenue at DeVry University decreased 23.0 % to $103.9 million compared to the prior year. Fourth quarter revenue at Carrington declined 15.3% to $32.3 million compared to the prior year.

Excluding special items, the segment reported an operating loss of $0.9 million for the quarter, compared to an operating loss of $1.2 million in the prior year.

DeVry University achieved $30.9 million of cost savings in the fourth quarter compared to prior year, excluding special items. Additional cost reductions are expected throughout fiscal 2018 to maintain positive segment economics.

http://investors.adtalem.com/file.aspx?IID=4183694&FID=389899051

https://www.sec.gov/Archives/edgar/data/730464/000115752317002378/a51670910ex99_1.htm

by
| 2932 views | | 15 replies (last September 8, 2017) | Reply
Post ID: @OP+OO2SkzD

15 replies (most recent on top)

I got a low category and I have really high student eval scores. There were also insulting remarks.

I think the older you are and the longer the number of years of service, the lower the category.

Sounds like ageism to me!

by
| | Reply
Post ID: @munp+OO2SkzD

So Ron Paul is out?

by
| | Reply
Post ID: @klla+OO2SkzD

I too had zero negatives on my ipp and got effective achieves. So did a friend of mine. What is up??

by
| | Reply
Post ID: @flxd+OO2SkzD

It looks like everyone is being rated lower than they should be to avoid pay increases. My IPP has no negatives on it and plenty of superlative language describing how "amazing" I have been, but that only results in a rating of "Effective/Achieves" and barely comes with any raise at all. A fellow professor who also gets high marks on course evaluations was rated as needing improvement with no real reasons given, even though he has been with DeVry for many years and has always had great reviews from students. Something smells fishy. We wonder if some of us are being set up for termination.

by
| | Reply
Post ID: @fbfa+OO2SkzD

they will probably delay ipps as long as possible so as to avoid giving money on "merit pay increases"

by
| | Reply
Post ID: @fdaq+OO2SkzD

Did anyone get IPP review yet?

by
| | Reply
Post ID: @frzo+OO2SkzD

If you look at job postings they are always looking for admissions advisors

---why not just let students do the enrolling enroll online? Put all the forms & all needed info there. Then few advisors really needed at all, unless there are questions. That might serve half of the applicants.

by
| | Reply
Post ID: @bdef+OO2SkzD

End of the session, right? Fear for your mortgage every 8 weeks....

by
| | Reply
Post ID: @8yju+OO2SkzD

Tomorrow

by
| | Reply
Post ID: @7tkh+OO2SkzD

So when is the next round of layoffs, do you think?

by
| | Reply
Post ID: @7vvh+OO2SkzD

What toys is Rob playing with?

by
| | Reply
Post ID: @3ysm+OO2SkzD

"Additional cost reductions are expected throughout fiscal 2018 to maintain positive segment economics." Basically, it sounds like more layoffs or location closures. They need to start with Rob Paul. He brings us closer and closer to the brink of complete shutdown. Too busy playing with toys and thinking about superheroes to help the students who come to us in good faith, or even just to keep the company alive.

by
| | Reply
Post ID: @3qkz+OO2SkzD

If you look at job postings they are always looking for admissions advisors. I don't know if they think if they have more advisors it will turn things around or if they are looking to layoff the ones they have to hire new ones at lower pay. You would think by now they would realize that formula isn't working well.

by
| | Reply
Post ID: @2pod+OO2SkzD

This means class size will go to 55 or 60, with an increased emphasis on passing students through. The company is in a death spiral of its own making due to incompetent and fraudulent management.

by
| | Reply
Post ID: @2wzw+OO2SkzD

Sad news

by
| | Reply
Post ID: @1zzo+OO2SkzD

Post a reply

: