An Early Homecoming?

***I now CAN vouch for the truth of #5, because it's happening to our friend. See below. It's such BS!***

Wild rumors abound about the financial state of my employer and I am beginning to seriously wonder if my husband and I will be coming home early.


Our employer, Nova, has had serious financial problems for some time, and may now be bordering on bankruptcy. Immediately before we came, a handful of teachers were arrested in a minor drug scandal, (two of whom came from my branch) triggering a flood of negative press. In addition, Nova has fought, and lost, a number of student lawsuits regarding allegedly dishonest cancellation and refund policies, causing the Japanese government to suspend part of their operations. The suspension currently prevents the company from offering long term contracts, which is supposedly where the majority of company profits derive from.


There are a number of online message boards claiming that Nova is going under and will be completely bankrupt in the coming weeks or months. At first I scoffed at this idea, because they are always making such claims, but now I'm not so sure. The past two weeks have brought a series of strange, foreboding events that are difficult to dismiss. For example:


1. Teachers outside the Tokyo and Osaka metro areas were paid late this month, and trainers (teachers who train other teachers) have not been paid at all. Their pay is currently ten days late. The powers that be keep pushing the pay date back, and so far they've changed it four or five times. Needless to say, the trainers are furious and many have supposedly resigned, although none in my area have. The CEO has sent a couple of faxes, but none of them say why the pay has been delayed. In one fax he claimed that prospects look brighter for next month, that it is always darkest before dawn, and to carry on business as usual, blah, blah, blah. I've never seen a vaguer statement.


2. New teachers normally receive pay advances to help them make ends meet until they receive their first paycheck. This isn't available anymore.


3. The company is closing anywhere between 50-200 schools. Sadly, I know this not because they announced it to their employees but because I read it in the news. The lack of communication from head office is appalling.


4. A company recruiter presented three choices to a new recruit scheduled to come to Japan. The choices were to come to Japan and hope for the best, to resign before coming over, or to wait until October 16th "to see what happens." October 16th happens to be the day after payday. I know this because a new teacher started at my branch this week and his friend is the new recruit. He still came though.


5. I've read on message boards that a few teachers have been evicted from their apartments because Nova didn't pay the rent. If true, that is the most infuriating thing I've ever heard because the company deducts rent from the teacher's monthly check and charges nearly double. I've also read that Nova has been evicted from office buildings for not paying the rent.

**Edit: Unbelievably, this is true. Our friend and his two roomates found on eviction notice on their door yesterday stating they had seven days to leave! The company has been withdrawing rent money from their paychecks, but hasn't payed the landlord in god knows how long! The tenants don't know what they're going to do yet. In perhaps the most hypocritical move of all time, the company has kept our friend on probaation because he was late twice. Ha ha ha ha! If this happens to my husband and I, I'm going to sit outside my branch and tell everyone coming in what happened. I'm scared!**

If something does happen to the company, my husband and I will happily come home early or possibly draw Japanese unemployment (how strange would that be). However, I would feel terrible for our students and for the new teachers and staff members.


What do you think? Are we coming home early? October 16th is D-Day I guess.

If you're interested, click here for a recent news story about the situation.