DePauw Details Restructuring Plan, Job Cuts
GREENCASTLE - DePauw University has announced plans for a restructuring on the Greencastle campus. In a letter released Tuesday, President Mark McCoy and Board of Trustees Chair Kathy Patterson Vrabeck say the plan will include the elimination of more than 70 jobs.
The university says the decision to eliminate the positions followed a review of benchmarking data that compared DePauw to similar peers throughout the country that operate with a balanced budget or surplus. The review showed the number of employees relative to the school's size was "much higher than can be sustained."
The elimination includes 56 full-time administrative and staff positions, 15 of which are currently vacant, as well as 17 part-time positions, two of which are vacant. The university says it is also offering a voluntary retirement incentive plan for faculty. However, no faculty or academic programs are being eliminated.
"Those affected by this reorganization have been informed and offered support and outplacement resources," McCoy and Vrabeck said in the letter. "Taking this strategic step now enables us to leverage the strength of our endowment and fundraising success to provide substantial separation packages and a lengthy transition period for those valued employees who are affected."
McCoy and Vrabeck say the changes are "right and necessary" in order to ensure the university achieves its vision. You can view the full letter below: