Thread regarding University of Phoenix layoffs

In a previous post, someone mentioned that University of Phoenix had an $85M shortfall. Can anyone confirm this?

"I heard recently Phoenix is facing a huge budget shortfall of about 85 million. Has anyone heard this from a reliable source? If true, there will be another major reorganization. It seems new enrollment is far below projections and retention is faltering. Certainly not unexpected."

https://www.thelayoff.com/t/Wxotunp

UOP is lying! We don't have that many enrollments. No way! If every single enrollment rep made their quota we wouldn't be near 79000. Not even with the students re-enrolled by Academic Counselors would make up that many new enrollments. UOP is lying once again

I am in enrollment and something doesn’t make sense.

I agree enrollment reps are enrolling more students on average. A higher student enrollment per rep. But we have lost so many reps, how does it equal out?

The campus I am at can barely get a GEN/201 off the ground to start. And we used to have to split that class in the past. I even had a student tell me there was only 3 students in his campus class.

Where are the students? We don’t see them at the campus. Is this all online? And most importantly, are these students retaining past 3-4 classes. Are they graduating? Have our graduation rates gone up or done?

The formatting of the numbers got messed up.

Enrolled: Actual 74892 AOP +4% Last Year -11%

New Actual 19517 AOP -6% Last Year +4%

YTD Rev Actual $306 mm AOP +3% Last Year -11%

It could mean plus 4% over previous quarter but -11% from last year at same time. I really don't know. Is it revenues or profit? If revenues are YTD, then it is since Sept 1. This is 5 months. Estimated revenues if current trends continue would be around 732-750 for current FY 2019. This would be a good sign for potential buyers. Most folks expected UOP to bottom out at 75K. This is a far cry from where it was 2 years ago but viable enough to attract a suitor or two. Management had to stop enrollment hemorrhaging, reduce costs, and be profitable for 6 consecutive quarters to really be a good candidate for purchase. When we went private, I recall new ownership said they intended to sell the institution when it was profitable. Their behavior has reflected this intention. GCU, SNHU, WGU, and ASU are now over 100K each in enrollment and will continue to earn the vast majority of new students. Given the uncertainty, tuition, reputation, and intention to sell, I am frankly surprised anyone enrolls at UOP. Perhaps it is the only choice available.

AOP = Annual Operations Plan (I'm pretty sure). They will have targets to try and meet their goals for the AOP.

What do your + and - figures mean? For example, "New Students Enrolled 19.517 -6% +4%."

Is that number above or below their targets?

Since UoP is now privately owned I'm surprised they published enrollment figures to faculty. There's no way they'd publish balance sheets though.

Anyone know what the sizes of layoffs have been? 75000 enrollment now, down from 300,000 not that long ago. Must've been a bloodbath.

Lots of faculty have complained about no classes or being terminated because of lack of teaching (I believe the cut off is 6 months. If you haven't taught in that long you're inactivated.)

Lots of comments by people about limited teaching opportunities due to enrollment decline and larger class sizes. I saw one comment from an instructor, " Today, out of 70 students 68 .." ---- I'm not sure I believe that!

Revenues were $306M, but how about expenses? Is there a balance sheet with assets and liabilities?

With low enrollments and deep worker layoffs I expect even more whistleblowers to come forward. That's how it's worked before, with Corinthian Colleges, ITT Tech, Art Institutes DeVry and other for-profit colleges as they tumbled. Too bad executives never listened to those who saw the problems over the years. Instead they silenced them, through firing and non-disclosure agreements.

Total students enrolled only 74, 892?