You have /5 articles left.
Sign up for a free account or log in.
In an email to alumni Thursday, Beloit College announced that it will lay off some faculty and staff and make salary cuts to combat a budget deficit, Beloit Daily News reported.
The plan, developed by a team call Beloit Forward, will decrease the annual $48 million budget to $43 million to accommodate for fewer students. To do so, Beloit will decrease the total size of the faculty to match the student population. Salary cuts will be made using a progressive system: staff and faculty making less than $45,000 will be exempt from the cuts, while senior staff could see a salary reduction of more than 10 percent. The college will also eliminate at least 30 administrative positions, although many of them are currently vacant.
The plan is a response to a projected $7 million budget deficit and a decline in first-year enrollment and retention rates for sophomores. The new financial model will not eliminate any academic programs.
