Saturday, January 7, 2017

Antioch College cuts costs, jobs - Audrey Hackett, YS News

For the first time since reopening to students in 2011, Antioch College is reducing its budget, a move college leaders say is necessary to bring expenses in line with revenues that have grown more slowly than expected. In meetings with staff, faculty and students last Friday, Antioch College President Tom Manley announced a series of spending cuts that will save the college about $1 million annually. These cuts include salary reductions for 23 college employees and the elimination of five staff positions. The budget measures are part of an 18-month effort to lower the college’s spending, according to Manley on Monday. Tuition revenue has been slower to grow than the college anticipated, and fundraising efforts fell short in fiscal year 2016, college leaders said.

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