Reported 12 months ago
Cathay Financial Holdings' subsidiary, the Cathay Financial Management Academy, is accused of interfering in personnel matters through 'donations'. The Higher Education Union alleges that Cathay Financial Holdings not only dismissed 30 official teachers from the Xingguo Financial Management Academy, but also used threatening tactics to force staff to sign 'voluntary resignation letters'. The Taiwan Observation and Asia-Pacific Institutes have also faced interference in school operations, with the former vice president of the Far East University accusing Cathay of orchestrating a 'campus coup' within 53 days of taking over, dismantling the school's leadership team. Cathay Financial Management Academy responded by stating all matters are being handled by legal advisors.
Source: YAHOO