People keep making FALSE claims of MASSIVE layoffs.
It doesn't work that way.
The way it works is schools SILENTLY get closed with layoffs or firings of one person at a time.
The 2 year timeframe is probably somewhat accurate. In a couple of years, the enrollment is likely to be 50% lower than today. The truth is coming out with ALL of the for profit schools. States are NOT waiting for the Feds to crack down. In particular, California is cracking down on ALL for profit schools. The state bureau of private postsecondary education (bppe dot ca dot gov) is starting to investigate and with respect to the Institute of Medical Education simply close the school down.