Shares of for-profit education companies finished mostly lower on Monday, with Universal Technical Institute Inc. leading the way.
On Friday after the market closed, Universal Technical Institute said it planned to cut 225 jobs nationwide, effective Sept. 16.
The company said it expects the job cuts to provide between $10.7 million and $11.4 million in savings in fiscal 2008, but it expects to record $4.4 million in charges in the fourth quarter.
Here’s how for-profit education companies fared in trading Monday:
Apollo Group Inc. lost $1.28, or 2.3 percent, to $53.82.
Career Education Corp. declined 79 cents, or 2.9 percent, to $26.17.
Corinthian Colleges Inc. rose 6 cents to $15.17.
