Mennonite Brethren Biblical Seminary has announced the reduction of several full-time staff and faculty positions, as well as immediate across-the-board reductions to health and retirement benefits.
“It is small comfort to know that nearly every evangelical seminary in North America has been forced to make similar moves due to the economic downturn,” said acting president Lynn Jost. “While we are disappointed that we will inevitably suffer loss, it is gratifying to see individuals voluntarily offer to accept reduced benefits, salaries, and hours and to pledge increased giving to help out in this crisis.”
The board of directors of MB Biblical Seminary has approved a balanced budget for 2009–10 which includes a modest tuition increase, a salary freeze and benefits reductions, and the announced staff cuts. The moves are a result of lower tuition revenue, smaller endowment earnings, and lower gift income from supporting churches.
“We are grateful for the faithful support of our donors,” Jost added. “We depend on the prayers of God’s people and the support of our owners, the Mennonite Brethren Church in the U.S. and Canada.”
Only Fresno campus employees are affected by the reductions.