Real Estate OptimizationGiven recent reductions in force, primarily at DeVry University and Carrington, the organization has excess administrative office capacity in the Chicago area. As part of its ongoing real estate optimization program, management plans to sell the Wood Dale, Ill., administrative office building later this year and relocate those employees to existing administrative office space in other Chicagoland locations. DeVry anticipates recording a non-cash restructuring charge of $9 to $10 million associated with this transaction in the second fiscal quarter of 2013. It expects to save approximately $2 million annually as a result of this consolidation.
DeVry Inc. Announces First-Quarter 2013 Results
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