Lincoln Tech Relocates Corporate Office, Realizes Significant Cost Savings
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West Orange, NJ, March 25, 2021 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ: LINC), marking 75 years in 2021 as a national leader in specialized technical training, announces the relocation of their Corporate office effective Thursday, April 1st. The new location – 14 Sylvan Way in Parsippany, NJ 07054 – offers flexibility and adaptability to pandemic-related workforce changes while also being expected to contribute significant cost savings.
Restrictions enacted during the COVID-19 crisis drove Lincoln Tech’s shift of its corporate operations to a largely virtual workspace in 2020. The organization was able to maintain a high level of support to its 22 campuses across the country as well as providing all student services that led to highly successful student outcomes in spite of the challenges faced as a result of the pandemic.
“We leveraged the current weak office market to secure an attractive rent with less space, since we anticipate more of our corporate staff working remotely in the near future,” says President and CEO Scott Shaw. “This smaller space will generate approximately $20,000 a month in savings. It has also been well-received among our corporate team members, who have enjoyed the flexibility of being able to work remotely.”
The new Sylvan Way location is a 17,000 square foot LEED Gold Certified Class A space in Morris County approximately 12 miles west of the previous West Orange location.
About Lincoln Educational Services Corporation
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults career-oriented programs in five principal areas of study: automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946.
Lincoln currently operates 22 campuses in 14 states under four brands: Lincoln Technical Institute, Lincoln College of Technology and Euphoria Institute of Beauty Arts and Sciences. Lincoln also operates Lincoln Culinary Institutes in both Maryland and Connecticut.
For more information, go to lincolntech.edu.
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