MB Biblical Seminary announced faculty and staff reductions today effective this year and next. In addition to immediate across-the-board reductions in health and retirement benefits, seminary administration announced the reduction of several full-time staff and faculty positions.
"MB Biblical Seminary is a tight-knit community," commented Lynn Jost, Acting President. "We all grieve these losses, especially the pain that is born by those who have lost employment. 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."
Jost added, "I am grateful for the response of the entire community to this difficult news. 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. I am heartened by words of encouragement even from those directly affected by the reductions."
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. Administrators add that 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. Despite the economic downturn, individual gifts to date are nearly on track with last year," Jost added. "We depend on the prayers of God's people and the support of our owners, the Mennonite Brethren Church of the US and Canada."
Only Fresno employees were affected by the reductions.
Posted: May 01, 2009