Loyola University to cut 60 jobs in effort to cut costs
Loyola University is going to reduce its work force by cutting 60 positions as the institution continues to search for new ways to cut costs, according to university officials Friday (July 7).
A 3 p.m. email sent by interim provost and vice president of academic affairs David Borofsky to Loyola officials Friday stated 12 faculty members have voluntarily accepted buyout packages. Additionally, 27 staff positions are being cut and 21 vacant positions will be left unoccupied.
The announcement comes after the university recently experienced a 33 percent increase in financial enrollment deposits from first-year students. The university also projects retention to approach 81 percent, which is a 4 percent jump from last fall. Borofsky stated in the email that the decision to cut jobs did "not come easily." He drew attention to how "some cost efficiencies must be derived from changing our processes and structure."
Borofsky's email also stated that Loyola would continue to provide tuition remission for affected employees and their family members currently enrolled at Loyola. He said they "hold the utmost respect and gratitude for each and every person affected by these reductions."
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