In January 2011, the company announced it would be laying off 600 people. Due to continued declining enrollment, additional plans to lay off as much as 7% of CEC's workforce (900 jobs) and close 23 schools were announced on November 8, 2012. The corporation made the announcement as it reported a $33.1 million net loss for the third quarter of 2012, as well a 23 percent decline in enrollment from a year ago. The "Chicago Sun Times" explained that "a U.S. Senate committee report last summer criticized for-profit schools for focusing on their own profits above their students’ job-readiness and for burdening students with loan debt at taxpayers’ expense. The scrutiny has hurt for-profit college enrollment." 25% of the current faculty at the California Culinary Academy were notified of their termination in mid November, effective December 31, 2012.Year over year, student enrollment dropped 16% from 2012 to 2013.