MILWAUKEE – Add Alverno College to the list of Wisconsin places of higher education dealing with financial issues.
The college on Milwaukee’s south side says they will likely recommend program changes and a reduction of faculty and staff positions to the school’s Board of Trustees within the next 60 days.
“The college is diligently exploring diverse strategies to maintain its mission’s integrity. Regrettably, this entails making difficult decisions including notifying our college community about employee reductions, to safeguard our financial sustainability” the school said in a statement released Monday. “These are challenging and uncertain times for higher education and Alverno, but our dedication to providing exceptional educational experiences and fostering community involvement remains resolute.”
According to tax forms, the college has run a deficit four of the past five years. Alverno Director of Marketing and Communications Jean O’Toole says the institution is facing a fiscal 2024 deficit of approximately nine million dollars.
Earlier this month, Concordia University Wisconsin announced plans to lay off 24 employees around the end of May. In March, the University of Wisconsin-Milwaukee announced it would close its Waukesha campus. And Cardinal Stritch University officially closed their doors in May of 2023.
RELATED: Ramirez Family Foundation plans school at Cardinal Stritch site
TOP STORIES FROM THE WTMJ NEWSROOM:
- West Allis Police looking for missing teenage girl
- Dog stolen at gunpoint on Milwaukee’s northwest side
- Pro-Palestinian college protests, tent encampments come to Wisconsin
- Animal mistreatment charges filed against Cedarburg farm co-owner
- Milwaukee Fire Department rolls out new mental health resource program for firefighters
