PITTSBURGH BUSINESS TIMES: EDMC cuts 300 employees nationwide
Career College Central Summary:
Education Management Corp. laid off another 300 people Wednesday, including about 70 in the Pittsburgh region, as it struggles with declining enrollment and making its offerings more affordable.
EDMC (Nasdaq: EDMC) confirmed the cuts, which represent less than 2 percent of its 21,000-employee workforce. It said the layoffs were across EDMC’s entire system and included some faculty members.
“As part of our ongoing efforts to offer students a great learning experience while keeping education affordable, we have to maintain close alignment between our resources and market demand,” said EDMC spokesman Chris Hardman. “As such, we had to make the difficult decision to eliminate approximately 300 positions, which is less than 1 and a half percent of our total faculty and staff at EDMC locations and schools across the country. The reductions are mostly in staff and support functions, but also includes some faculty members.”
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PITTSBURGH BUSINESS TIMES