For-profit Career Education Corp. to close 23 campuses | California Watch

For-profit Career Education Corp. to close 23 campuses | California Watch:

For-profit Career Education Corp. to close 23 campuses

Erica Perez

alejandrophotography/istockphoto.com

For-profit college giant Career Education Corp. announced that it will close 23 of its 90 campuses and eliminate 900 jobs after the company reported a net loss this quarter of $33 million and a 23 percent drop in new student enrollment.
The company, which owns six campuses in California, has not said which of its campuses will close, but stated in a disclosure to the U.S. Securities and Exchange Commission that it wants to invest in campuses that have the strongest likelihood of delivering solid job placement rates for students and are the most efficient.
The company has not yet notified the campuses that will close but will begin to in the next 30 days, Chief Financial Officer Colleen O’Sullivan said in a conference call Friday.
In California, Career Education runs the California Culinary Academy in San Francisco, the International