Morehouse College drops cost-cutting plan after faculty vote
ATLANTA (AP) — One of the nation’s top historically black colleges is dropping plans to cut employee salaries and retirement contributions after faculty voted to walk out in protest.
Morehouse College President David Thomas wrote in an email obtained by The Atlanta Journal-Constitution that a “walkout would have done irreparable harm” to positive developments at the college.
The all-male college had announced an effort to save $3 million over nine months, including some job cuts, a monthly unpaid furlough day for its 415 professional employees and a temporary halt to retirement contributions of 3% of employee salaries.
The idea was to shift the money to cover a budget gap created by unpaid student tuition and fees.
Thomas says donations have increased, but he warns budget cuts could still be required in the future.
Information from: The Atlanta Journal-Constitution, http://www.ajc.com