Technology Slice Blog

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 regul...