CC lays off 11 staff members

Colorado College has eliminated 11 staff positions across several departments to further reduce expenses, spokeswoman Leslie Weddell said Tuesday.

The layoffs were needed because not enough staff members took voluntary buyout offers.

Weddell said 51 staff members voluntarily accepted the buyouts. Of those positions, 11 have been "deemed necessary to be filled," Weddell said, and those who were laid off and have the qualifications will be given first opportunity to apply.

The private, liberal arts college, which has about 2,000 students,must trim $8 million to $12 million from its operating budget to balance the books because its endowment fund has taken a heavy loss from the volatile stock market.

Although three sports programs will be axed, financial aid -- which had been considered as fair game for cuts - has been spared for the school year that begins in the fall. The college will spend about $6 million in financial aid for incoming and transfer students, which "will be consistent with funding levels from previous years," Weddell said.

Other money will be used to supplement financial aid, including $250,000 from the board of trustees.

Six new scholarships totaling $110,277, also will be awarded next school year, Weddell said, and the Women's Education Society has added $118,000 to its endowed fund.

The payout from endowed scholarships for the 2009-10 school year will be $8.2 million, a 1.19 percent decrease from this year's payout, Weddell said.