ROANOKE, Va. – Leaders at Roanoke College have announced that they will be cutting costs, including reducing salaries and eliminating some positions, in response to the impacts of coronavirus.
Officials say the changes are in an attempt to reduce spending by about $6 million.
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Budget cuts will include suspension of contribution to employee retirement plans as well as a reduction of salaries, operating expenses and workforce. Fourteen positions, in addition to any that are already open, will be permanently eliminated.
“The current devastating health and economic crisis require us to take these actions,” said university president Michael Maxey. “We are making the sacrifices necessary now to ensure our long-term viability and ability to provide a high-quality experience to every one of our students,” Maxey said. “These are difficult decisions to make.”
The changes are set to go into place on July 1.