Union College is implementing cost-cutting measures after missing enrollment targets for two consecutive years. The Schenectady institution is laying off its entire dining staff of approximately 40 employees while offering early retirement incentives to long-serving staff members who have worked at least 10 years and are 60 or older.

Under the retirement package, eligible employees receive two weeks of salary for each year worked, up to a maximum of 78 weeks for those with 39 years of service. The dining staff will have opportunities to apply for positions with Bon Appetit, the contractor managing food services. Other affected employees can seek alternative positions within Union or accept severance packages.

The college, which maintains a $600 million endowment, is taking these steps despite drawing significant funds from its investment portfolio. Last year, Union withdrew $27 million annually from the endowment, with an additional $5.5 million allocated for the current school year. The institution's endowment grew from $525 million to $600 million over the past year, providing some financial cushion as enrollment challenges persist.