View previous topic :: View next topic |
Author |
Message |
real merry hijackers
Joined: 21 Oct 2008
|
Posted: Fri Dec 26, 2008 8:53 am Post subject: wall street institute - layoffs and closings... |
|
|
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 |
|
 |
jillbean1217

Joined: 04 Jul 2008
|
Posted: Fri Dec 26, 2008 9:22 am Post subject: |
|
|
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 |
|
 |
martinpil
Joined: 03 Dec 2008
|
Posted: Fri Dec 26, 2008 10:46 am Post subject: |
|
|
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 |
|
 |
jillbean1217

Joined: 04 Jul 2008
|
Posted: Fri Dec 26, 2008 5:13 pm Post subject: |
|
|
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 |
|
 |
weatherman

Joined: 14 Jan 2003 Location: Korea
|
Posted: Fri Dec 26, 2008 5:21 pm Post subject: |
|
|
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 |
|
 |
ajgeddes

Joined: 28 Apr 2004 Location: Yongsan
|
Posted: Fri Dec 26, 2008 5:24 pm Post subject: |
|
|
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 |
|
 |
martinpil
Joined: 03 Dec 2008
|
Posted: Fri Dec 26, 2008 6:03 pm Post subject: |
|
|
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 |
|
 |
ajgeddes

Joined: 28 Apr 2004 Location: Yongsan
|
Posted: Fri Dec 26, 2008 6:11 pm Post subject: |
|
|
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 |
|
 |
bizrandom

Joined: 23 Oct 2007 Location: Busan
|
Posted: Fri Dec 26, 2008 11:47 pm Post subject: |
|
|
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 |
|
 |
Forbidden-Donut
Joined: 17 Jul 2007
|
Posted: Sat Dec 27, 2008 9:40 am Post subject: |
|
|
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 |
|
 |
Draz

Joined: 27 Jun 2007 Location: Land of Morning Clam
|
Posted: Sat Dec 27, 2008 8:34 pm Post subject: |
|
|
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! (Except for how the weather back home SUCKS this time of year.) |
|
Back to top |
|
 |
smogdonkey
Joined: 19 Dec 2006
|
Posted: Sat Dec 27, 2008 9:53 pm Post subject: |
|
|
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 |
|
 |
buymybook
Joined: 21 Feb 2005 Location: Telluride
|
Posted: Sat Dec 27, 2008 9:58 pm Post subject: |
|
|
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 |
|
 |
buymybook
Joined: 21 Feb 2005 Location: Telluride
|
Posted: Sat Dec 27, 2008 10:11 pm Post subject: |
|
|
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 |
|
 |
smogdonkey
Joined: 19 Dec 2006
|
Posted: Sat Dec 27, 2008 10:34 pm Post subject: |
|
|
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 |
|
 |
|