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Remote Work Dictates Headquarters Shift

Aug 17, 2022

Laureate Education in Baltimore, will shift its headquarters to Florida in a nod to remote work, according to an article in The Baltimore Sun

“Adam Smith, a spokesman for the international higher education company, said Thursday that the company’s corporate office has moved from Baltimore to Miami, though the Florida base is little more than a central address for official purposes, at a WeWork location,” according to the article. 

The company, which once operated 71 private universities in 25 countries, has been selling off its holdings in recent years and is down to five universities in Mexico and Peru.Smith said the company decided to go fully remote after sending employees home to work in March 2020 from the former offices on three floors of the 650 Exeter St. building. vacated that property earlier this year.

“We never went back to the office,” Smith said. “We over many months developed a remote working policy. We found that our corporate workforce adapted extremely well to working remotely.”

Laureate was born out of Sylvan Learning Corp., a tutoring company Maryland native Douglas Becker and business partners acquired in 1991.

On Thursday, Miami-based Laureate released second-quarter financial results, reporting a profit of $43.6 million in the three months ended June 30, reversing a loss of $29.2 million in 2021′s second quarter that it attributed to a loss on the extinguishment of debt. The company’s revenue jumped 18% to $385.4 million.

David Harrison