Lower Merion’s St. Joseph’s University is offering voluntary buyouts to some faculty and staff as it works to close a small budget deficit, stemming from recent college mergers, writes Susan Snyder for the Philadelphia Inquirer.
President Cheryl McConnell said the acquisitions of the University of the Sciences in 2022 and Pennsylvania College of Health Sciences in 2023 helped expand programs—especially in nursing—but brought financial challenges.
“Now that we’re two years in … we need to reorganize the university with a one-university mindset,” McConnell said.
While the exact size of the deficit or number of buyouts hasn’t been shared, McConnell said they were offered widely. Layoffs aren’t planned but may depend on how many employees accept the offer.
St. Joe’s, which enrolls about 8,600 students, is also fielding offers to sell its University City campus, valued at $288 million, to reduce debt and boost its endowment. Programs there would continue through leasebacks.
Like many universities, St. Joe’s is adapting to a changing higher ed landscape. While no hiring freeze is in place, the school is cautious with new hires.
Despite financial tightening, McConnell said the university’s fundamentals are strong and it remains focused on long-term growth and stability.
Read more about St. Joe’s buyouts in the Philadelphia Inquirer.
ditor’s Note: This post was originally published on MONTCO Today in March 2025.
