Time will tell. If you hear announcements in the next week or two of CCI layoffs and school closures then those making such predictions were proved right. If you don't hear such news then the predictions were proved wrong.
The problem is that CCI avoids a lot of layoffs by simply quietly not renewing teaching appointments or firings. You can't cover up the news of school closures so easily.
My guess is that CCI is going to announce more school closures in the next couple of weeks.
Another way for CCI to silently cut costs is by simply terminating programs. Heald College over the past couple of years reduced both the number of IT programs and the campuses that they are taught at.