New Oriental Q3 closes 22 teaching points and opens 11 new

More information on the April 24 news, New Oriental released today's fiscal year 2013, the third quarter. Mr Yu said Q3 had shut down 22 teaching centers and laid off 1200 people, but had opened 11 new teaching centers in the fast-growing market. After this increase, the number of new Oriental teaching centers has changed from 744 to 733 in the last quarter. Releasing the last quarter financial news, New Oriental CFO Sheidong said that in the future will close 15 to 25 teaching centers, four months to lay off 1000 to 1500. Judging from the figures published today, the work of optimizing people and teaching centers may be temporarily closed. This quarter, the new Oriental a total of 13.5 million U.S. dollars, in the rapid development of the market to add 11 teaching centers, but also at 2.6 million U.S. dollars price, in Changsha bought a floor as the new headquarters of Changsha School. Mr Yu said the new Oriental would continue to implement the "harvesting strategy" in the future. The core of the harvesting strategy is to improve operational efficiency and profitability, and is expected to continue to improve operational efficiency over the next few quarters by increasing the utilization of existing facilities. (Multi-Knowledge network Zhang)