Like so many other schools, this cut was necessary because of the Coronavirus crisis.
YS News reports:
Antioch College announces $2.5 million budget cut; staff, faculty let goAntioch College is cutting spending by $2.5 million in the coming fiscal year, which begins July 1. Eight staff employees, currently furloughed, are being laid off. In addition, the college is reducing its faculty by six, through voluntary and negotiated departures and one retirement.Antioch announced the budget cuts in a press release Tuesday evening, June 23….In a Wednesday interview with the News, Antioch President Tom Manley described the staff and faculty cuts as painful but necessary in order to balance the next fiscal year’s budget. The workforce reduction accounts for about three-quarters of the overall spending cuts.“These are big, tough decisions,” he said. “The numbers are what they are, and each year we try to line up revenues with expenses.”Antioch is cutting spending due to “acute” financial pressures at the college intensified this spring by the effects of COVID-19, Manley said. He noted Antioch is far from alone in making cuts in response to COVID-19 and the ongoing enrollment and budgetary challenges many colleges face.“I haven’t heard of a single college that isn’t affected,” he said. “They are all taking serious budget action to try to survive.”According to Manley, Antioch’s board of trustees believed decisive action was needed to put the college on a sustainable path for the coming year. A trustee task force of three worked on the new budget, with input from across the college.
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