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St. Catherine's University is preparing to slash a "fair number" of jobs for the next academic year, according to a statement released to Fox 9 Thursday.

Officials say they're still working to evaluate how many and what positions will be cut, but insist the move is meant to position the school for the future and not because the school is in financial straits.

St. Kate's is a small university with just 337 academic staff serving just over 5,000 students.

The university's full statement: