The new president of Hampshire College in Amherst, Massachusetts, said he's taking a salary of $1.00 a year. That's as the school prepares for another round of layoffs.
Hampshire College interim president Ken Rosenthal said he'll be working at a bargain rate as the school tries to raise money to stay independent.
"It's a dollar for the year, and I'm hoping that on July first, as we begin another fiscal year, I'll get another dollar," he said. "It's now mounted on the bulletin board in my office, so I'm reminded that I have to work to earn my money."
Rosenthal said Hampshire is now trying to determine how many faculty and staff it needs for a student body he expects will be about half its current size in the fall.
"When we understand what complement of people we need, we will be saying to the others that we wish them well, but it will be time for them to go," he said.
Those faculty and staff will receive word later this month.