The City Colleges board approved a $443 million 2018 budget that holds the line on both property taxes and student tuition.
“We’re eager to get going. We’re looking forward to moving forward with the project,” City Colleges spokeswoman Katheryn Hayes said.
In addition to the layoffs, Salgado also announced plans to cut pay for senior leadership by 10 percent and sell City Colleges’ downtown headquarters.
The headquarters building, at 226 W. Jackson Blvd. across from the Willis Tower, is about one-third occupied.
Felicia Davis is one of two interim presidents chosen by newly-appointed City Colleges Chancellor Juan Salgado in his first official day on the job.
Mayor Rahm Emanuel on Friday established an ambitious goal for his new City Colleges chancellor to achieve: a 25 percent graduation rate by 2019.
Salgado replaces Cheryl Hyman, who announced last June that her tumultuous six-year tenure would end after a one-year transition.