Lafayette College to cut 10 percent from budget

May 4, 2009 5:09:15 AM PDT
Lafayette College is cutting expenses because of the economy and a dwindling endowment. College officials last week announced they will slash budgets, freeze salaries and cut back on building projects over the next four years.

College President Daniel Weiss wrote in an e-mail to staff, faculty and students that Lafayette plans to decrease its operating budget by roughly 10 percent, or approximately $11 million.

In interviews with The Morning Call earlier this year, Lafayette officials said the college has relied on its endowment for 25 percent to 30 percent of its annual budget. But that endowment has dropped almost 30 percent since its peak in June 2007.

Lafayette College is Easton's largest employer.

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Information from: The Morning Call, http://www.mcall.com

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