500 employees to be laid off by the University of Phoenix

The nation's largest for-profit college, the University of Phoenix, which has seen an 18% drop in enrollment over the past year, announced Tuesday it will lay off 500 employees across the country. Apollo Group, the parent company of the college, said most of the jobs lost will be nonfaculty staff who helped develop online courses. The company laid off 800 workers last year after a government report criticized its student-recruitment strategies and job-placement data.

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