University of Phoenix closing facilities, laying off 800

The University of Phoenix --- unquestionably the General Motors of for-profit higher ed --- announced that it will lay off about 5% of its workforce and close 115 locations that account for about 40% of its "campus" square footage.  A sign of the present hard times plaguing all of higher ed or a strategic restructuring?  Maybe a bit of both.

http://chronicle.texterity.com/chronicle/20121026a?sub_id=HY6oGrXxBF5Z#pg23

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