Buyouts and cost-cutting in recent months at Keene State College have put the school on track to balance its budget for the coming fiscal year, according to Interim President Melinda Treadwell.
About 10 percent of employees are leaving voluntarily under the buyout agreements, helping the college close a budget gap of $5.5 million. That’ll allow the school to avoid layoffs in the short-term, Treadwell said.
Like many schools in the northeast, Keene State has been struggling with significant enrollment declines and corresponding losses in tuition income.
Treadwell has been overseeing what she calls the “right-sizing” of the college. Most of the employees taking buyouts are staff members, but 11 faculty will leave as well. Over the coming months, Keene State will take a hard look at its remaining employee base, she said, examining what further steps need to be taken to adapt to the college’s smaller size.