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For-Profit schools business EDMC laying off 40
PITTSBURGH (AP) - Education Management Corp., a Pittsburgh-based company that runs about 100 for-profit post-secondary schools, has laid off about 40 employees.
The company, also known as EDMC, blamed enrollment declines for Tuesday’s cuts.
EDMC runs schools for artists, chefs and other trades, and has about 23,000 U.S. employees, 2,200 of them in Pittsburgh. The layoffs came at the company’s Pittsburgh headquarters.
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.
The company is also targeted in a seven-year-old lawsuit filed by the Justice Department, which contends EDMC paid its recruiters solely on enrollment statistics, which is illegal. EDMC has denied that.
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