"The plan, developed by a team call Beloit Forward, will decrease the annual $48 million budget to $43 million to accommodate for fewer students. To do so, Beloit will decrease the total size of the faculty to match the student population. Salary cuts will be made using a progressive system: staff and faculty making less than $45,000 will be exempt from the cuts, while senior staff could see a salary reduction of more than 10 percent. The college will also eliminate at least 30 administrative positions, although many of them are currently vacant."
https://www.insidehighered.com/quicktakes/2018/08/27/beloit-plans-layoffs-salary-cuts-fix-deficit