Skip to main content

University Of Phoenix Fires 700 Employees

University Of Phoenix Fires 700 Employees - Apollo Group Inc., the country's largest for-profit school company, said Monday that it has laid off 700 full-time employees, mostly in student admissions, as enrollment drops off sharply.

In October, Apollo said it expected new students enrolling at University of Phoenix campuses to drop 40 percent in the quarter ending in November and withdrew its profit outlook for its upcoming fiscal year.

It has been expecting a steep fall-off in new students as the broader sector remains under increasing scrutiny from the Department of Education and lawmakers because of surging student loan defaults. Critics have accused schools like the University of Phoenix of using aggressive enrollment counselors to sign up students unprepared for college classes. The schools receive government-backed student aid, the bulk of their revenue, even if students eventually drop out of classes burdened with debt.

In response to the criticism and potential regulatory changes, Apollo implemented a free, three-week orientation program to weed out students unprepared for its curriculum. The Phoenix-based company also stopped paying recruitment counselors based on how many students they enroll.

A company spokesman said Monday he could not speculate if there will be more layoffs.

"This is a period of transition for us, and we're going to be very diligent about managing our costs through the transition," said spokesman Alex Clark.

The layoffs took place across the school's U.S. campuses, Clark said. As of Aug. 31, Apollo had 21,777 employees and 35,194 full- and part-time faculty. Apollo said in a regulatory filing that it expects to book charges of $5 million for the quarter ending Nov. 30 connected to the layoffs, but expects to start saving about $8 million per quarter starting in its fiscal second quarter.

University Of Phoenix Fires 700 Employees

Comments

Popular posts from this blog

Contactless Debit Cards

Contactless Debit Cards - Contactless debit cards will make their formal debut in Canada next year with the launch of Interac Flash from Acxsys Corp.’s Interac Association, Canada’s national debit network. Interac’s first two Flash issuers are Scotiabank and RBC Royal Bank, which will roll out their first contactless cards next summer. The first acquirer is TD Merchant Services, a unit of Toronto-Dominion Bank. More issuers and acquirers are on the way, an Interac spokesperson tells Digital Transactions News, though no announcements have been made yet. Interac and the banks tested Flash this summer at some high-volume, small-ticket merchants in downtown Toronto. The spokesperson expects national merchants will be making formal announcements about acceptance. “There’s a lot of excitement in the merchant community,” she says. “Merchants are looking for that faster throughput.” In a statement, the Retail Council of Canada endorsed the new card. “Interac Flash is a welcome and needed

The Craigslist Killer TV

The Craigslist Killer TV - Lifetime last night turned the Craigslist killer headlines into a much watched and even more talked about TV movie. The movie told from Ms Megan McAllister’s point of view is chilling, even if it didn’t have her consent. For those who don’t know the story, Philip Markoff a Boston University medical student and fiancé of Ms McAllister met Julissa Brisman on Craigslist and murdered her. Markoff met Brisman on Craigslist, arranged a meeting for a massage. Police at the Boston Marriott Copley Place hotel found Brisman, shot dead and a massage table set up in the room. Brisman, who was 25 at the time, was pursuing a modeling career. Four days earlier a Las Vegas prostitute reported being attacked and robbed by an armed man at a nearby hotel, a stripper at the Holiday Inn in Warwick, Rhode Island reported a similar incident, as well as two more in the area. The Craigslist Killer TV Megan Mcallister, loved and almost married Philip Markoff. The question of thi

'Ferris Bueller's Day Off' Home on the Market for $1.65M

'Ferris Bueller's Day Off' Home on the Market for $1.65M - "Ferris Bueller's Day Off" fans listen up! A home from the iconic '80's film is on the market for $1.65 million, reports the Huffington Post. Starring as the modern digs of character Cameron Frye in the movie, the glassy house is located in Highland Park, Illinois and has been on the market for a little over a year. More photos reveal the glass-wrapped home features floor-to-ceiling windows overlooking a spacious tree-filled lot, according to the listing on Realtor.com. 'Ferris Bueller's Day Off' Home on the Market for $1.65M With four bedrooms, three bathrooms and 5,300 square feet of living space, the home served as the setting for the oddball hijinks in the 1986 film. Architects A. James Speyer and David Haid designed the house, built in 1953, with a specialty glass-enclosed garage to store Ben Rose's collection of vintage cars, reported Luxist.com when the home or