On Monday, the parent company of the University of Phoenix announced to lay off approximately 600 employees. Apollo Education Group said that it plans to close more campus locations as it faces continuous declines in enrollment and revenue.

The company’s spokesman Ryan Rauzon said that Apollo would not break out where the employees worked but that layoffs occurred across the country. Earlier this year, Apollo reported that it had 7,150 Arizona employees.

In the quarter that ended in May, the Phoenix-based company's enrollment and net revenue each tumbled more than 14 %. Apollo reported adjusted earnings of 53 cents per share, down from 78 cents per share a year earlier.

Although the company reported a $48 million profit for the quarter and beat some analysts' expectations, it still told investors to expect more modest financial numbers for the remainder of the year.

Apollo CEO Greg Cappelli said, “Our commitment across all of our institutions is to deliver world-class experiences and outcomes, connecting students' education with their career aspirations, and helping employers recruit, retain, and develop a highly engaged and productive workforce”.

The company's chief financial officer quit in May and left a job that paid him $3.8 million last year, mainly from stock options.

The company's earnings statement said that it remains focused on re-engineering its business processes and educational delivery systems. It wants to improve the efficiency and effectiveness of its services to students, and further reduce costs to align with its lower enrollment and revenue.