Site Search:
 
Speak Korean Now!
Teach English Abroad and Get Paid to see the World!
Korean Job Discussion Forums Forum Index Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

wall street institute - layoffs and closings...
Goto page 1, 2  Next
 
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Job-related Discussion Forum
View previous topic :: View next topic  
Author Message
real merry hijackers



Joined: 21 Oct 2008

PostPosted: Fri Dec 26, 2008 8:53 am    Post subject: wall street institute - layoffs and closings... Reply with quote

anyone know the dish with this? i heard 30% of people being let go, and closing gangnam office. maybe others? dirty rumour?

WSI is a big fella. might be a sign of things to come.
Back to top
View user's profile Send private message
jillbean1217



Joined: 04 Jul 2008

PostPosted: Fri Dec 26, 2008 9:22 am    Post subject: Reply with quote

From what I've heard, it's true. A bunch of my good friends work there, and one of them is being let go. Supposedly they're supposed to lay off one person from every department. Although this could be a sign of things to come, it could also just be a sign of poor planning and overextension in a crap economy. They were hiring new people at that specific branch less than a month ago...so maybe they just missed the economic memo and really did "overextend"? But, who knows at this point.
Back to top
View user's profile Send private message Send e-mail
martinpil



Joined: 03 Dec 2008

PostPosted: Fri Dec 26, 2008 10:46 am    Post subject: Reply with quote

It's most probably getting rid of people they don't want or who can't teach properly, because they were telling me the other day that they were ok for staff untill the summer and will keep my CV on file. It's just a tactful way of getting rid of people who dont perform.
Back to top
View user's profile Send private message
jillbean1217



Joined: 04 Jul 2008

PostPosted: Fri Dec 26, 2008 5:13 pm    Post subject: Reply with quote

Quote:
because they were telling me the other day that they were ok for staff untill the summer and will keep my CV on file. It's just a tactful way of getting rid of people who dont perform.


Were you trying to apply for a job there? I wouldn't put too much stock into their words...no company is going to say "Well, actually, we're not as recession proof as we all thought, and we're laying people off right and left." Also--sometimes telling you that they're putting your resume on file is just a tactful way of telling you that they don't want you....because of the economy, job vacancies, etc. Do you really think that one of the giant ESL chains with various branches is "okay for staff" for the next six months? Especially with people leaving all the time? I'm just saying, the manager at a WSI branch -told- me they were laying off 30% of their workforce.
Back to top
View user's profile Send private message Send e-mail
weatherman



Joined: 14 Jan 2003
Location: Korea

PostPosted: Fri Dec 26, 2008 5:21 pm    Post subject: Reply with quote

martinpil wrote:
It's most probably getting rid of people they don't want or who can't teach properly, because they were telling me the other day that they were ok for staff untill the summer and will keep my CV on file. It's just a tactful way of getting rid of people who dont perform.


Ok for staff to summer? No, they can't pay the bills so they are getting rid of people. Sure they will kick out people who can't do their jobs first, that is natural.

I hope there is some restructuring in the industry. In stead of market share, could we see an emphasis on education?

Ha ha,� I got hopeful.
Back to top
View user's profile Send private message
ajgeddes



Joined: 28 Apr 2004
Location: Yongsan

PostPosted: Fri Dec 26, 2008 5:24 pm    Post subject: Reply with quote

They are letting 30% of their staff go, foreign and Korean. One Gangnam centre and one Sinchon centre are getting closed. They expanded right when the economy took its downturn last spring and things haven't been good there since.
Back to top
View user's profile Send private message Send e-mail
martinpil



Joined: 03 Dec 2008

PostPosted: Fri Dec 26, 2008 6:03 pm    Post subject: Reply with quote

Do they have a particular method to teach like Berlitz for example or is it up to the teacher what he teaches? And how much do they pay for a fulltime contract? Do they offer accommodation... I know theyre closing but just wondered.
Back to top
View user's profile Send private message
ajgeddes



Joined: 28 Apr 2004
Location: Yongsan

PostPosted: Fri Dec 26, 2008 6:11 pm    Post subject: Reply with quote

IMHO their full-time contract is terrible. Part-time is the way to go. They are very well structured and the people that work there seem to be happy. Classes have a maximum of 4 people per class. They won't go out of business, they just expanded at the worst possible time.
Back to top
View user's profile Send private message Send e-mail
bizrandom



Joined: 23 Oct 2007
Location: Busan

PostPosted: Fri Dec 26, 2008 11:47 pm    Post subject: Reply with quote

martinpil wrote:
Do they have a particular method to teach like Berlitz for example or is it up to the teacher what he teaches? And how much do they pay for a fulltime contract? Do they offer accommodation... I know theyre closing but just wondered.


There will be no job openings for some time, unless someone leaves. However if they were leaving they would have taken the package offered now. WSI system is unique to them. You do not teach what you want. They expanded at the wrong time, and were still adding people a month ago. Now 1 foreign staff from each center will be laid off January 31st. "In response to the challenges brought on by the current economic climate."
Back to top
View user's profile Send private message
Forbidden-Donut



Joined: 17 Jul 2007

PostPosted: Sat Dec 27, 2008 9:40 am    Post subject: Reply with quote

My friend works there, and yea, they are closing two branches, and offering some extra severance pay incentives if teachers want to give up their job. The teacher has to let them know within 3 days though, from what I heard, not alot of time especially since it is holiday season. One teacher and some Korean staff will be let go from each location as well, just like everyone here has said. Though I heard the layoffs were coming a lot sooner than Jan 31st..

My friend mentioned that these layoffs were announced on the 23rd. Two days before christmas! Whats up with that? Couldn't they wait until after the holidays at least?
Back to top
View user's profile Send private message
Draz



Joined: 27 Jun 2007
Location: Land of Morning Clam

PostPosted: Sat Dec 27, 2008 8:34 pm    Post subject: Reply with quote

Forbidden-Donut wrote:
My friend works there, and yea, they are closing two branches, and offering some extra severance pay incentives if teachers want to give up their job. The teacher has to let them know within 3 days though, from what I heard, not alot of time especially since it is holiday season. One teacher and some Korean staff will be let go from each location as well, just like everyone here has said. Though I heard the layoffs were coming a lot sooner than Jan 31st..

My friend mentioned that these layoffs were announced on the 23rd. Two days before christmas! Whats up with that? Couldn't they wait until after the holidays at least?


I was laid off at the beginning of December. For an overseas worker whose family is really really into Christmas, it's the best time for it! Smile (Except for how the weather back home SUCKS this time of year.)
Back to top
View user's profile Send private message
smogdonkey



Joined: 19 Dec 2006

PostPosted: Sat Dec 27, 2008 9:53 pm    Post subject: Reply with quote

Not Jan. 31, December 31, and not 1 from each center, many.

Some real good and well-liked teachers, as well as Korean staff members, are losing their jobs. Some people found out Friday, some won't until Monday.

They are offering one month's salary as a package for both those who voluntarily resign and those who are laid off.

They were just hiring as recently as two weeks ago, and now they're laying off people in chunks.
Back to top
View user's profile Send private message
buymybook



Joined: 21 Feb 2005
Location: Telluride

PostPosted: Sat Dec 27, 2008 9:58 pm    Post subject: Reply with quote

bizrandom wrote:
martinpil wrote:
Do they have a particular method to teach like Berlitz for example or is it up to the teacher what he teaches? And how much do they pay for a fulltime contract? Do they offer accommodation... I know theyre closing but just wondered.


There will be no job openings for some time, unless someone leaves. However if they were leaving they would have taken the package offered now. WSI system is unique to them. You do not teach what you want. They expanded at the wrong time, and were still adding people a month ago. Now 1 foreign staff from each center will be laid off January 31st. "In response to the challenges brought on by the current economic climate."


Sounds like a play on words to me. A person with a contract cannot be laid off unless they agree to it. Anyone being laid off/let go/FIRED is owed full salary and benefits during the entire contract period.


Last edited by buymybook on Sat Dec 27, 2008 10:32 pm; edited 3 times in total
Back to top
View user's profile Send private message
buymybook



Joined: 21 Feb 2005
Location: Telluride

PostPosted: Sat Dec 27, 2008 10:11 pm    Post subject: Reply with quote

ajgeddes wrote:
IMHO their full-time contract is terrible. Part-time is the way to go. They are very well structured and the people that work there seem to be happy. Classes have a maximum of 4 people per class. They won't go out of business, they just expanded at the worst possible time.


Of course it's terrible but what do you mean by part-time? Those people who you say are part-time are really full-time. They work a minimum of 4 hours/classes per day plus Saturdays = 80 + hours per month which easily qualifies them for severance and pension. WSI clearly discriminates against employees who teach 4 hours/classes per day as opposed to those who teach 5 or sometimes 6.

If you compare the contract of a so called "part-time" employee at WSI to what you call a full-time WSI employee, the Full-time employee has a much better contract. They teach nearly the same amount of classes and get paid approx. 800.000 Won more per month plus bonuses. So, WSI also discriminates against those employees by not qualifying so-called "part-time" employees for bonuses.

The so-called part-time employees are also NOT invited to the once a year excursion to where ever they go. In the past they were invited but had to pay while full-timers did not have to pay. Now, it seems their yearly excursions to top-less bars at places like Pattaya have caught up with them.
Back to top
View user's profile Send private message
smogdonkey



Joined: 19 Dec 2006

PostPosted: Sat Dec 27, 2008 10:34 pm    Post subject: Reply with quote

FT WSI teachers are required to be at the center for 9 hours a day, minus 1 hour for lunch, while teaching anywhere from 3-6 classes per day, depending on student demand. FT teachers are paid a salary, regardless of how many classes are scheduled/taught. They also have one (paid?) vacation day per month.

Part time teachers usually work 3 hours per day. A good majority of them were from 7-10pm. There were some who taught 4 hours per day, but those have been cut down to 3 in recent weeks. PT teachers are required to stay at the center only for those classes, and are paid on an hourly basis, though even if students cancel they are paid.

Working 4 hours a day plus every third Saturday usually ended up within a couple hundred per month of the average FT contracts.

So basically, if you have nothing better to do with 5 or 6 hours of your day, then yeah, the FT contract is better.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Job-related Discussion Forum All times are GMT - 8 Hours
Goto page 1, 2  Next
Page 1 of 2

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2018 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group

TEFL International Supports Dave's ESL Cafe
TEFL Courses, TESOL Course, English Teaching Jobs - TEFL International