Colby-Sawyer College faces $2.6M loss, laying off 18 workers

Markets Associated Press

Facing a projected operating loss of $2.6 million, New Hampshire's Colby-Sawyer College says it will "restructure" and lay off 18 employees.

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College President Sue Stuebner says seven faculty members and 11 staffers at the New London college received notice Monday. Another 11 learned their hours will be modified and more than a dozen who are leaving won't be replaced.

The Valley News reports (http://bit.ly/2h2JlJK) Stuebner attributes the current year's operating loss to recent fluctuation in Colby-Sawyer's enrollment, which went from about 1,500 four years ago to 1,100 this year.

The current year's operating loss followed two years of $2 million in losses each.

The school's online faculty directory lists about 75 members. That puts the loss of teachers at a little under 10 percent.