JACKSONVILLE, Fla. – Jacksonville University announced this week that it is eliminating some majors and laying off 40 faculty members to save $10 million.
JU said the cuts are part of a “reimagining its academic offerings to propel student success and academic excellence, meet market needs and create long-term financial sustainability.”
“This is a critical moment for the hundreds of universities like ours nationwide to focus and prioritize their academic offerings, serve their core constituents, and create long-term financial sustainability,” said Kim Banks, Chief Financial Officer. “The higher education industry nationwide is being asked to reenvision its financial model. We are ready to meet this new landscape.”…