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Last updated at November 25th, 2020EDMC Stock traded at: NASDAQ Industry Code: 5922 About Education Management Corporation: Provides career-focused post-secondary education. Revenue information: Education Management Corporation is located in Pittsburgh, PA (Pennsylvania). It was established in 1962. 2004 estimated revenue was $853.0 million. 2007 Estimated revenue was $1.4 billion.
Status : OnlineEducation Management Corporation, a large for-profit chain, last week announced layoffs of 200 employees in the online division of its Art Institute of Pittsburgh, the Pittsburgh Post-Gazette reported. The company has struggled with slumping revenue and enrollments in recent years, as well as federal and state lawsuits and investigations. Last year it announced the closure of
Status : OnlineEDMC has continued to announce further employee layoffs. In June of 2015, 300 employees were laid off. In October, 2015, another 115 employees were laid off. In August of 2015, President and CEO of EDMC, Edward West, announced his resignation. Mark A. McEachen, a member of the EDMC Board of Directors, was named as West's successor.
Status : OnlineEDMC (Nasdaq: EDMC) confirmed the cuts, which represent less than 2 percent of its 21,000-employee workforce. It said the layoffs were across EDMC’s entire system and included some faculty members.
Status : OnlineThe layoffs focused on administrative and support staff at the Art Institute of Pittsburgh’s Online Division, housed in the Strip District.
Status : OnlineTodd S. Nelson, former CEO, EDMC Summa Cum Laude. Nelson is the top of the heap of former EDMC “leaders” who rode the sinking ship to big salaries and bonuses. Nelson came to EDMC in 2007 and almost immediately took the company public. It was the beginning of high profits for the company and lucrative pay for executives and shareholders.
Status : OnlineEDMC reported revenues of $2.76 billion for fiscal year 2012. Most of that money comes from you and me. Senator Tom Harkin's Health Education Labor and Pensions (HELP) Committee calculates that 77.4 percent of of EDMC's 2010 revenue came from U.S. Department of Education student financial aid. If you add in military and veterans aid money, then ...
Status : Online05/04/2017 - Art Institute parent company EDMC issues layoff notice to corporate employees 05/04/2017 - Joint Letter Questions New Ownership of Predatory Colleges 03/13/2017 - In EDMC Sale, Ties To For-Profit Education To Face Scrutiny 03/06/2017 - New Non-Profit Owner For EDMC 03/03/2017 - Art Institute Campuses To Be Sold To Foundation
Status : OnlineThe Pittsburgh for-profit education company confirmed that positions at “several” Art Institutes had been terminated.
Status : OnlineDue to economic downturns and the for-profit industry receiving numerous lawsuits and scrutiny over job placement rates EDMC took a major hit. There was many layoffs due to the above mentioned however there seems to be a more steady business plan put in place with the newest Chancellor in place. The education side of EDMC is amazing.
Status : OnlineTroubleshoot
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