The chain lost $100 million last year, and is making changes to its business model, curriculum and leadership.

Inside Higher Ed reports.

Nonprofit owner of former Corinthian Colleges’ campuses loses $100 million while overhauling the career college chain

The remains of the former Corinthian Colleges’ Everest and WyoTech chains got a little smaller this week.

On Friday Zenith Education Group confirmed that it will consolidate eight of the former Corinthian campuses it purchased last year, while also gradually closing two campuses in Florida. The nonprofit career college chain also said it will “flatten” its leadership structure as part of a substantial number of organizational changes.

More than 500 Zenith employees will lose their jobs due to the restructuring, Zenith said, including adjunct faculty members. And more than 100 positions in the Everest Online and student financial support divisions will be eliminated, according to sources.

Zenith lost $100 million last year, said Dave Hawn, president and CEO of ECMC Group, the nonprofit student-loan guarantor that owns Zenith, in an interview last week before the cuts were announced. The chain had eliminated more than half of its workforce before the latest reductions, Hawn said.