The University of Cumbria's vice chancellor says cutting jobs now will help the university to invest more, in the future.
Up to sixty positions will go, as part of a plan to save around £5 million in the next academic year.
Most of the redundancies will be voluntary.
Peter Strike says these savings could lead to new jobs being created, and more investment in facilities.
The West Cumbrian school is due to close this summer. The governors say falling pupil numbers mean it is not financially sustainable.Read the full story ›
The St Bees Rescue Group which raised about £2m and put forward an alternative plan to save the school has accepted it will close this summer.
Chairman Mark George told ITV Border he is "heartbroken".
In an exclusive interview with ITV Border the chair of St Bees' governing board defended the decision to close the school this summer.
Professor Frank Woods attended a public meeting on Saturday night and told hundreds of angry parents that St Bees' future was not financially sustainable.
On Friday the governors confirmed the school would close this summer despite a rescue plan put together by a group of campaigners.
The Rescue Group which put together a package to try and save St Bees says it is now "impossible" for the school to re-open in September.
About 400 people gathered in the village church for a meeting on Saturday night.
It followed the governors' announcement on Friday that they had rejected the Rescue Group's alternative plan to secure the school's short-term future.
Rescue Group Chairman Mark George said he was "gutted" the school would not re-open in September. He added that he was "deeply sorry" the group's attempts had failed.
The under-fire chairman of St Bees' governing body, Professor Frank Woods, also attended the meeting.
He was, at times, jeered by parents and there were multiple calls for him to resign.
He said St Bees was "a treasure" but a "very expensive treasure" and that its future was not financially sustainable.
Governors have announced that St Bees School will close this summer.Read the full story ›
St Bees School will close this summer, it has been announced this morning.
Governors at St Bees are continuing talks today to decide whether to accept a rescue package to keep the school open.
If they reject it, the 400-year-old school will close this summer.
Matthew Taylor meets those campaigning to save St Bees.
95% of parents applying for primary school places in Cumbria have been given their first choice.
Figures from the county council say there were more than 4,500 applications.
Eleven pupils didn't get a place at one of their three chosen schools.
Governors of St Bees School are continuing talks today to decide whether to accept a rescue package to save the school.
The private school in West Cumbria is likely to close this summer if the governors reject the plan.
£2 million in pledges has been raised to keep it open for at least another year.