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Empresas y finanzas

Apollo Group profit falls, to cut jobs


    (Reuters) - Apollo Group Inc , owner of the largest for-profit college in the United States, posted a 60 percent drop in quarterly profit and forecast a weak 2013 due to lower student enrollments.

    The company said it will cut about 800 jobs, and announced other actions to save costs by $300 million by fiscal year 2014.

    Apollo Group will also realign its ground locations, impacting about 4 percent of total enrollment, or about 13,000 students, it said in a statement.

    (Reporting by A. Ananthalakshmi in Bangalore; Editing by Supriya Kurane)