Antioch College in Yellow Springs, Ohio, will close in July 2008 with the intent of reopening in 2012. Antioch is one of my institution's fellow OPAL (Ohio Private Academic Libraries) members. They had already cut library staff (and other staff on campus) but now it seems all library staff and others will be without jobs in a year. Here's hoping they all find employment elsewhere before the year is out.
Read more about it in the Columbus Dispatch and The Chronicle of Higher Education.