01/30/2011 05:12 am ET | Updated May 25, 2011

University Of Phoenix Lays Off 700 Nationwide

The University of Phoenix has laid off roughly 700 employees as it grapples with declining enrollment and changes in the way it compensates admissions counselors.

The layoffs, mainly affecting admissions personnel, were announced in meetings with affected employees across the nation, said Ryan Rauzon, a spokesperson for parent Apollo Group.

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