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

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

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 ( 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.