Tulane University--the largest employer in New orleans--"facing significant financial shortfalls since Hurricane Katrina, announced a plan yesterday to reduce its annual operating budget by laying off 230 faculty members, cutting seven NCAA Division I programs and eliminating underperforming academic programs.
Administrators say the long-term plan -- which will ultimately reduce the annual budget by $55 million [circa 10% of its operating budget] -- is to create a stronger and leaner undergraduate school by focusing on strong programs in such areas as architecture, business, arts and sciences while jettisoning some engineering programs that were not as highly rated."
"Full-time faculty will be required to teach undergraduates, and by keeping the school smaller, officials said they will not have to lower admission standards."
The whole thing is worth reading. There is information about other colleges in New Orleans. The New York Times also runs a story on Tulane.