MTC concerned regarding the Biden Administration’s phase out of private prisons
Management & Training Corporation (MTC) has expressed concerns following a decision by the Biden Administration's intentions to deemphasize the government's reliance on private prisons through an executive order. As part of the new executive order, the Department of Justice will no longer renew any contracts with private prisons. As MTC serves as a contractor for the management of private prisons, these decisions would have material negative effects on the company.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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