For-profit Bridgepoint lays off 167
- San Diego's ABC 10News reported Monday that Bridgepoint Education had laid off 167 employees with two month's severance.
- The station got the news about the third round of layoffs in 16 months from an anonymous source within the for-profit education company who was concerned that they would be among the next to be let go.
- Last month, a user known as "anonymous41668" posted in a job loss forum that the company was headed for a 52-week low and that "[a]s soon as our valuation drops the execs start cutting, let's see what happens here."
The layoffs come just as Bridgepoint is set to report its Q3 earnings results prior to the market opening Wednesday morning. Like many for-profit higher ed companies, Bridgepoint, which operates Ashford University and University of the Rockies, has recently seen financial issues, as well as state and federal investigations. Bridgepoint operates in a total of five states and has over 7,000 employees and, as of June, 61,000 students.
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