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June 29, 2007, 03:40 PM ET
Randolph-Macon Woman's College Cuts 30-35 Jobs
Randolph-Macon Woman’s College announced on Tuesday that it is cutting its administrative work force by 15 percent in an attempt to shore up its troubled finances, according to an article in the Richmond Times-Dispatch. In addition, the college has approached faculty members about taking early retirement, and a spokeswoman for the college said it may also cut some academic programs after the upcoming school year, the reporter, Rex Bowman, writes:
The cost-cutting measures announced yesterday come less than 10 months after the governing board of the private, all-female school voted to enroll men. The vote was an effort to increase the size of the student body to help solve the school’s money woes.
The college has been strapped for cash in recent years and has resorted to pulling money from its $140 million endowment to pay operating costs. The college recently received a warning to get its finances in order from the Southern Association of Colleges and Schools, an accrediting agency.
The positions eliminated yesterday include full and part-time jobs, voluntary early retirements and open positions that will not be filled. [College spokeswoman Brenda] Edson said severance packages were offered to everyone.
On Sunday the college will change its name to Randolph College to reflect its new co-ed status.
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