Unfortunately, one also sees Classics programs being downsized, merged into “World Languages” departments, or axed altogether. UNC Asheville has four humanities programs on the chopping block, for example, despite touting itself as a liberal arts college (ancient Mediterranean studies, drama, philosophy, and religion).
There is of course no reason a student with a Classics degree can’t find a decent job; the problem is that Classics departments have done a poor job of marketing themselves and demonstrating this. (How many keep track of student placement and make that information publicly available?)
Classics will survive at Harvard, Berkeley, Penn, etc., but I fear for many of the smaller and less well-funded programs.