Saint Louis University (SLU) has confirmed the layoff of 23 staff members as part of a broader initiative aimed at reducing its budget by 4%. This decision is part of efforts to address the institution’s financial challenges.
Position Reductions and Faculty Roles
In addition to the layoffs, the university plans to eliminate a total of 130 positions. This reduction will include 30 unfilled faculty roles and 100 vacant staff positions, as communicated by SLU President Fred Pestello.
Future Personnel Reductions
On October 11, the university notified faculty and staff that additional personnel reductions might be necessary to meet budgetary goals for the fiscal years 2026 and 2027.
Financial Stability Concerns
President Pestello described the staff changes as a difficult development for the SLU community, stressing their importance for the university’s financial stability. The institution reported a total deficit of $5.2 million for fiscal year 2023, prior to the sale of its medical practice, SLUCare.
Anticipated Budget Deficits
Looking forward, the university anticipates ending fiscal year 2024 with a modest budget deficit but asserts it remains in a strong financial position overall. However, the university is experiencing pressures due to lower-than-expected first-year student enrollment in fall 2023, along with increased tuition discounting and unexpected operational costs.
Enrollment Trends
In recent years, SLU’s enrollment has shown an overall increase, with 15,755 students enrolled in fall 2022, reflecting an increase of over 1,000 students compared to 2017 figures.
Current Staffing and Strategic Focus
Currently, SLU employs approximately 2,600 full-time staff members, including around 900 faculty. The administration is focusing on strategies to analyze and improve administrative functions while also exploring opportunities to boost enrollment in both domestic and international programs.
(Original source: Higher Ed Dive)