Yesterday the University of Phoenix announced that it was closing 115 locations across the country, a move that will affect 13,000 students. Three of these campuses are located in Wisconsin. The Madison, Brookfield and Grand Chute campuses have stopped enrolling students and eventually will close. At this point the Milwaukee campus will remain open.
The closures come as parent company Apollo Group Inc. said earlier this week that its fourth-quarter net income tumbled 60%, hurt by higher costs and declining enrollment at the University of Phoenix. .
The University of Phoenix currently has about 328,000 students, down from a peak of more than 400,000. Following the closures, it will be left with 112 locations in 36 states, the District of Columbia and Puerto Rico.
Shares in the Phoenix-based company tumbled nearly 8% in after-hours trading.