College of St. Scholastica Announces More Budget Cuts
DULUTH, Minn. – The College of St. Scholastica announced more budget cuts on Thursday due to significant financial losses stemming from the COVID-19 pandemic.
According to recent reports, the college experienced over $5 million in lost revenue during the spring semester.
Bob Aschenmacher, Executive Director of College Communication for CSS says upcoming cuts will include a salary reduction for staff making more than $36,000, personnel cuts, and a reduction in retirement contributions.
Employees and staff making between $36,000 and $50,000 will see a 1% salary cut beginning September 4.
Each increased salary range will increase the percentage of salary reduction.
Additionally, beginning July 1 the college will decrease its retirement contribution to a 4% rate instead of its current 8% rate.
Lastly in the second phase of budget cuts, CSS says 32 faculty and staff positions will also be affected by the cuts.
In the first phase of cuts, college leaders took pay reductions which included a 10% pay reduction for St. Scholastica President Barbara McDonald and a 5% pay reduction for senior administrators and deans.
The college also opted for voluntary furloughs, however, these cuts were not enough to offset the financial losses incurred during the spring semester.
