Dive Brief:

• For-profit education firm Strayer Education Inc. will cut its workforce by 20% and close 20 schools.
• The announcement came after it reported its net income fell 17% on a drop in enrollment.
• The closed schools will be primarily in the Midwest; students will be able to continue classes online.

Dive Insight:

In July, the company also announced falling revenue on lower enrollment. Strayer says it will be lowering tuition, which, combined with smaller enrollment from shutting schools, may push its revenue down even further.