Alverno College in Milwaukee is the latest Wisconsin higher education institution to plan cost-cutting measures to address financial challenges.
The Catholic, liberal arts college for women, founded in 1887 and located on the city’s south side, announced Monday that it will likely seek “program changes and a reduction of faculty and staff positions” in a recommendation to its board of trustees within the next 60 days.
No other details about the program changes or layoffs were disclosed in today’s announcement.
“In the face of ongoing financial pressures within the higher education landscape, particularly among small private institutions, Alverno College acknowledges the need for proactive measures,” the college said in a news release. “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. 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.”
Current enrollment at Alverno is 1,719. Of that, 887 are undergraduates and 832 are graduate students. This year’s enrollment is up 7.7% from the 2022-23 school year, but it is down 28% from the 2014-15 school year when Alverno’s enrollment was at 2,389.
Alverno College is just the latest of a growing list of colleges and universities that have been faced with serious financial problems as enrollment has declined at many institutions.
Cardinal Stritch University, founded in 1937 and located in Fox Point and Glendale, shut down at the end of its spring 2023 semester.
Earlier this year the University of Wisconsin-Milwaukee announced that it will cease operations of its Waukesha campus after the close of the spring 2025 semester. That news came about five months after UWM announced the closure of its Washington County campus in West Bend – its other satellite location.
Marquette in March announced places to cut the institution’s overall budget by $31 million over the next six years.
Concordia University Wisconsin notified state officials that it planned to lay off 24 employees at its Mequon campus.
