College cuts
by Brian Mann on December 1st, 2009
In a move that will like draw attention from across the North Country, Skidmore College in Saratoga Springs is cutting 70 positions.
This from the Glens Falls Post Star:
The decision to pare the school’s work force was made after projected income for the 2011 fiscal year dropped 8 percent, roughly $12.6 million, from earlier estimates, school administrators said.
The shortfall reflects declines in expected tuition income, a fall-off in alumni donations and less-than-expected interest payments.
The school’s endowment fund has also taken a hit. Projected to hit $340 million in 2011, it hovered at around $260 million as of late September, reflecting the overall downturn in the economy.
