LeMoyne-Owen College eliminates staff to address shortfall
MEMPHIS, Tenn. (AP) — Memphis’ only historically black college has eliminated seven staff positions in recent weeks to help address a $1 million budget shortfall.
The Commercial Appeal reports LeMoyne-Owen College had hoped to enroll 900 this year but enrollment fell short at 836.
The eliminated positions included three executives and four positions in human resources, finance and IT.
Interim President Carol Johnson-Dean began in August. She told the paper it was important to make changes early on to stabilize the college financially.
LeMoyne-Owen has also begun a national fundraising campaign. The goal is for 30% of alumni to give to the college annually. Currently fewer than 10% of alumni make annual gifts.
In addition, Memphis accountant and former TVA chairwoman V. Lynn Evans will begin Monday as a financial consultant.
Information from: The Commercial Appeal, http://www.commercialappeal.com