MTC voices concern regarding the Biden Administration’s phase out of private prisons
Management & Training Corporation (MTC) has voiced their concerns regarding the Biden Administration’s 2021 executive order directing the Department of Justice (DOJ) to phase out the use of private prisons. Since MTC serves as a contractor for the management of private prisons, the phase out of private prisons would have material negative effects for the company. The executive order instructs the DOJ not to renew contracts with privately operated detention facilities; however, the order excludes ICE detention facilities.
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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