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Apollo Group to Lay Off 800 Employees and Close 115 Locations

The parent company of the University of Phoenix outlined those plans in a corporate filing on Tuesday, as it posted a drastic drop in quarterly profits. The company said the moves, following another bout of layoffs in 2010 and paralleling similar cuts by Kaplan, the Career Education Corporation, and other for-profit colleges, would affect some 13,000 students. They will be given the option of moving to other locations or to the university’s online program. The company said it hoped to cut its costs by $300-million by 2014.

For more, see this Chronicle news analysis.

The Company anticipates incurring approximately $25 million of restructuring and other charges in fiscal year 2013 related to workforce reductions.

Read more at: www.sec.gov

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