Humber College, located in Ontario, Canada, is introducing a Voluntary Employee Exit Program (VEEP) as part of its strategy to address significant fiscal challenges. The college has cited declining international student enrollment alongside a prolonged freeze on tuition fees as central issues impacting its financial health. As a result, Humber is taking proactive steps to manage its budget by offering exit packages to voluntary staff, reflecting the institution's commitment to navigate through these turbulent economic times.

In a letter addressed to the Humber community, CEO Ann Marie Vaughan identified several contributing factors to the financial strain. Despite recent provincial funding aimed at supporting post-secondary education, Humber is still facing various challenges, including operating cost increases because of inflation and caps on international student admissions. These elements have collectively heightened pressure on the college's budget and necessitated a re-evaluation of personnel and resource allocation.

Vaughan described the introduction of the exit program as a measure of transparency and foresight in facing the institution's financial realities. She emphasized that the college is at a point where fundamental decisions must be made to ensure its financial sustainability. The decision to roll out the VEEP highlights the institution's need for a strategic response to long-standing financial constraints while aiming to maintain quality education and operational efficiency amid an evolving educational landscape.