Thread regarding Le Cordon Bleu layoffs

From the latest quarterly report: "Across all of our institutions and our corporate support center, we are in the process of developing and...

From the latest quarterly report: "Across all of our institutions and our corporate support center, we are in the process of developing and implementing a business model and cost structure that is aligned with lower student enrollment and the closing of selected campuses. These efforts will address all aspects of our domestic business and include changes associated with lower student volumes, as well as fundamental business model changes that will allow us to be more profitable as revenues stabilize and grow in the future. We make these changes with an eye towards standardization and simplification of the way we operate - while maintaining the quality of education we provide to our students. We are moving aggressively to strengthen our business and financial performance. Some of our improvement initiatives have already been executed. The remainder are in-process. We expect to complete a majority of these efforts in the third and fourth quarters of this year. These activities will result in material impacts to 2013 and beyond with expected reductions to operating expense of $25 million or more in 2013."

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