Thread regarding DeVry Inc. layoffs

http://blogs.barrons.com/emergingmarketsdaily/2017/02/07/devry-slips-back-to-school-for-brazil-loans/?mod=yahoobarrons&ru=yahoo&yptr=yahoo

The company is a predatory Ponzi scheme that defrauds students and abuses employees while enriching the managers - all paid for by US taxpayers.

...well at LEAST the money is being kept here & wasted in the USA, rather than being sent to build new roads in Zanzibar, or pay for tractors in Greece.

The first argument that students make when they are failing a class is that they must receive a C or better to continue getting students loans, off of which they are living. Students are living off of their loans as most of them are minimum or no-wage workers. DeVry is a socialist organization funded by the government. Just look at the annual report to view the percentage of revenues that come from Title IV funding. At least Russian companies are honest about being socialist. If student loan revenues were to be eliminated the company would lose 85% of its income. The company is a predatory Ponzi scheme that defrauds students and abuses employees while enriching the managers - all paid for by US taxpayers. http://www.streetinsider.com/Corporate+News/DeVry+Education+(DV)+Plans+to+Lower+Amount+of+Federal+Funding+Derived+for+Title+IV+Institutions/12052729.html

"This place pretty much accepts anyone with a pulse and a checkbook."

.....I believe hardly any of them have any check book, or any money...It is probably mostly federal loans...wonder how many of them pay for Devry themselves or have their company pay??????

95% of Devry graduates are functionally illiterate. The company is the epitome of a diploma mill.

Very true. This place pretty much accepts anyone with a pulse and a checkbook.

It is increasingly obvious that we are enrolling anyone who has a way to pay the tuition. That seems to be the only thing that matters. If we were concerned about academic aptitude, we would require entrance exams rather than just placement exams. We tend to lure students who could not get into better schools and are basically forced to settle for us. It was not always that way, but it is now. So do not blame the professors. "Garbage in garbage out" as they say.

After much debate my former coworkers and I reached the conclusion that "Different on Purpose" referred to our willingness to enroll anyone who can pay for it. "Not every university does that, but we're not every university."

In all truth, DVU has had its share of bad faculty but those are by far the minority. Most of the faculty who worked for me were brilliant, well educated, compassionate, hardworking, and admirably dedicated to their students. They could have done better than DeVry and they deserved better. After the layoffs I told some of them that if they could find a job at a real university that actually values them, they would thrive.

Most of the Devry staff are hard working & dedicated. Any assertion otherwise is false. It is the management ongoing quest to enroll the bums, the nearly illiterate & any available person (whether they really want to enroll or not), that has brought Devry to its dismal situation

Don't be rushing to put it on the professor's since they work with what they got. Mostly they are all top notched in degree knowledge and can bring it to us in a manor that we can use. Big problem comes when the mony's not put into the school but in the pockets of the others. All the investor's bring it down to where it's run with a shoestring bugit that won't keep things ongoing.

Devry faculty are meant to have other jobs... jobs in their fields.... and teach devry as their part time second job. So why do all the "professors" here have their panties in a wad. You aren't the end all be all. In fact you're the reason why our education is so bad.

........................Where are all the non- faculty people??...............

They are on a coffee break, they really don't contribute much to the school or its success...why are you worried about them? They can show you how to play their money monopoly games.

@LE3irwk-1tcp -you tire rather easily, perhaps your many years in the carnival shows have left you withered.

I know what you mean, @LE3irwk-1hgt. We would be foolish to believe the words of people who live this stuff every day and see it from the inside.

But it is definitely not just faculty. We have seen posts from admissions advisers, student support advisers, former deans, families of students, and just about every type of person involved in the DVU community. In fact it was a student support adviser who first pointed me to this site, and an operations support coordinator who convinced me to pay attention to it. I know that many of the employees on my campus visit this site on a regular basis because we all talk about it.

Without no doubt instructers were taking on a toll with all the cut costs being put onto the school. Thats why the goods news is the new profits that they reported. It is now at least hopefull that all of student can get on with degrees and no longer worry about anything up and closing, the way it happened everywhere else. Even the offices will be running full, rather then half empty like when nobody is around anymore. It proves the desprite measures and many cutting costs were not needed in the first place.

Are all the commentators on here faculty? It's tiring listening to the second rate teachers of devry b--ch on here. Where are all the non- faculty people??

The release is lies and falsehoods and the numbers are fake. The student commitment standards cannot be implemented because there is inadequate full time staff to do it, and visiting professors are not going to take on any additional work, especially since they are treated like mongrels and have not had a raise in many years. It is all a pipe dream and Devry is going the way of Corinthian. I expect the company to go chapter 11 or chapter 13 in a year or two. The time to sell shares is now.

They turned a profit!!! Don't cry Camden! Thanks for all the readmits due to the loan forgiveness and balance waivers!!! Keep hating Camden! We just keep winning!

Corinthian Colleges did the same thing right up to the bitter end.

DeVry is also padding its balance sheet by increasing its intangible assets and goodwill, to make up for the new $224M revolving loan. Definitely smoke and mirrors.

sounds like the managers are finally on the ball...what could go wrong now. Keep hiring new staff & fill those classrooms! Seems like this year there will be good raises for most, and maybe even room for some promotions.

.....as we recommit to our students by implementing our voluntary Student Commitment standards, we can now dedicate our time toward re-establishing enrollment growth, driving further cost efficiencies and carefully charting our strategy going forward.....

Business, Technology and Management revenue decreased 23.6 percent...guess that is not so important for Devry, with all of the new initiatives they have.

Many more DeVry locations closing in the next 45 days as the third quarter will be a bigger loss than reported. Plus consolidation of regional groups to just 3, means a minimum of 100 or more people let go again in back to back years. And reduction in admissions advisors as marketing efforts stall. Most students will be online only moving forward. This would be in line with the last three years of "strategic cost saving" moves that were "executed" when enrollment growth is declining. Employees and shareholders will not be surprised. Simple reason, the track record of the current COO at DeVry doing the same things at UTI ( almost put them out of business) and the culinary school that closed a couple quarters after he left. The new COO for Carrington will do the same. You can't cut to profitability and student service is declining quickly according to students and staff that are leaving. I feel sorry for the ITT students that will have to go through this all over again. Shame on you DeVry.

Here we go again. Enrollments down at almost every school: DeVry, Keller, Ross Medical, Carrington, yet net revenue better than expected. The smoke and mirrors that DeVry uses to figure out their financials is amazing. I cannot wait for the day that this school is exposed for what it really is.

Are the stockholders and shareholders this oblivious?