College adjusts to recession
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By Gordon Dritschilo Rutland Herald Staff - Published: February 3, 2009
MIDDLEBURY — Middlebury College will scale back financial aid and cut or cap pay for a number of ranking employees as the school grapples with economic woes.
College President Ronald Liebowitz outlined the cuts in a letter to the college community last week. Liebowitz said he would personally take a 10 percent pay cut as part of the overall effort.
Employees making $50,000 or less will see a 2 percent raise, while those making more will have their salaries held flat. The president's staff will take a 2.5 percent cut and the college vice presidents will take a 5 percent cut.
The college will "adjust" what the families of students on financial aid are expected to pay and reduce the amount of aid set aside for international students, starting with the class of 2013.
Fewer professors will be released from teaching duties to pursue research or committee work, which Liebowitz said will eliminate the need to fill seven replacement faculty positions.
College officials stated their intention last month to cut 100 positions by attrition during the next three years, and Liebowitz's letter said the college will offer a voluntary early retirement program to eligible staff and details would be announced later.
Other measures include closing Rehearsals Café, reducing hours at the Juice Bar, reducing discounts to employees and "friends of the college" at the Golf Course and Snow Bowl, changing freshman orientation, and making several changes to dining services.
Some of the changes in dining services could result in layoffs, according to the letter, though the college will try to keep that from happening.
Contacted by e-mail Monday, college vice president for administration and chief financial officer Patrick Norton said details on the financial aid cuts and the amount the college expects to save through these measures will be announced at upcoming meetings on campus.
Losses to the college endowment in the stock market and a drop off in charitable donations left the college projecting a $9 million to $10 million shortfall in its $220 million budget.
Liebowitz said more cost-savings options are under review and the college will hold meetings Thursday and Friday to answer questions from the campus community.
Contact Gordon Dritschilo at gordon.dritschilo@rutlandherald.com.
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