Saint Joe’s Warns of Job Cuts
(Image courtesy of Saint Joseph's College.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowSaint Joseph’s College has outlined a series of job cuts related to its decision to suspend operations at the campus in Rensselaer. In a notice to the state, the school says 36 employees will be let go beginning April 17. The positions include 16 coaches, a director of major gifts and multiple university support roles.
In the letter to the Indiana Department of Work Force Development, the administration said additional cuts will come and the college will give 60 days notice. It also reiterates that the ultimate call on whether to permanently shut down the entire college remains undetermined. The approximately 125-year-old institution currently employs around 200 and has more than 900 students.
College officials have not yet publicly detailed the timeline for completion of the school’s transition, but the letter to the state, which is signed by SJC Vice President for Business Affairs Spencer Conroy, says the board of trustees has asked the administration to study the feasibility of developing a plan to revive the school. That report and recommendations are due to the board by June 30, 2019.
The list of financial woes that have been disclosed by SJC officials include some $27 million in debt and an estimated $35 million in deferred maintenance if the college were to move forward in its current state. In all, leaders estimate the school would need $20 million to operate for one year past the June 1 transition date and a total of $100 million to continue for years down the road.