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Struggling University of Phoenix Lays Off 900

Posted by Soulskill on from the not-as-likely-as-a-real-phoenix-to-rise-from-the-flames dept.

An anonymous reader writes: The struggles facing for-profit colleges continue. The University of Phoenix announced poor quarterly earnings yesterday, and the institution has laid off 900 workers since September. Enrollment is down 14% since last year, and the CEO of its parent company, Apollo Education Group, says enrollment is likely to drop from 206,000 to about 150,000 next year. Apollo's stock has lost more than half its value since the beginning of the year. "Tighter regulations on for-profits and the Obama administration's push to make community college free top the list of headwinds. And non-profit universities have entered the online education space, where for-profit schools once held center stage."

2 of 133 comments (clear)

  1. Just to be Clear... by sycodon · · Score: -1, Troll

    You can spend hundreds of thousands at a state or Ivy League college getting a useless degree, have giant debts, end up on food stamps, and Obama doesn't care.

    But if you spend the same at University of Phoenix or ITT Tech and have the same result, Obama gets his panties in a wad.

    So the lesson here is that money should only be wasted on government approved institutions.

    --
    When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
    1. Re:Just to be Clear... by Anonymous Coward · · Score: 0, Troll

      Close... Money only spent on institutions that have union employees who have their union dues given to the DNC whether they want it or not.

      You will also notice the $1Trillion spent on "shovel ready jobs" mostly went to other union workers in a DNC money laundering scheme.