- Associated Press - Wednesday, April 2, 2014

PITTSBURGH (AP) - Education Management Corp. has announced layoffs of about 200 employees nationwide and sold a building in Pittsburgh, where the company is based.

The company, also known as EDMC, announced the sale of its Art Institute of Pittsburgh building on Tuesday, for just under $10 million. It will lease the space for the next three years. Chicago developer M&J; Wilkow bought the building.

EDMC runs schools for artists, chefs and other trades, and has about 23,000 U.S. employees, 2,200 of them in Pittsburgh.

The school has been targeted by federal regulators, including the Securities and Exchange Commission, which has questioned the school’s bad debt expenses. The school has blamed those problems on rules that tighten the availability of student loans.