Georgian College is cutting staff and putting a conference centre it owns up for sale.

A restructuring plan announced on Thursday will see the college cut seven full-time administrative positions and re-assign others.  

It will result in 70 full-time staff being kept for teaching through the spring and summer session.

The college is also selling the Kempenfelt Conference Centre, an aging facility in Innisfil that it says it cannot afford to upgrade.

"You can understand when you're a post-secondary institution if you've got that kind of facility and it's a drain on your budget it's probably wise for you to focus your energies on serving students rather than running a conference facility," says college CEO and president Marylynn West-Moynes.

The conference centre is on Lake Simcoe and the college says it will be better served by new owners.  The centre will close in October. 

The college says it must focus on its core mission and re-invest in new and existing programs.