“the university is projecting a nearly $40 million negative impact between now and the end of the fiscal year unless we take immediate, strategic and necessary steps to resolve it”
Coming soon to a college or university near you.
The Courier Journal reports:
University of Louisville to furlough employees, cut pay due to coronavirus pandemic
The University of Louisville plans to furlough some employees and will institute pay cuts for those earning at least $100,000 due to the financial impact of the coronavirus pandemic, President Neeli Bendapudi announced Thursday.
“As of today, the university is projecting a nearly $40 million negative impact between now and the end of the fiscal year unless we take immediate, strategic and necessary steps to resolve it,” Bendapudi wrote in a campus-wide email. “Despite this reality, we have worked to keep all of our people whole throughout this past month and will do so for as many of our people as possible for as long as possible.”
She indicated that the financial pressure on the university has gotten bad enough for the university’s leadership team to develop and move forward with plans to deal with it. And those plans include pay cuts and unpaid furloughs that will impact U of L employees.
Bendapudi announced Thursday that the university intends to institute “part-time and full-time employee furloughs in targeted areas” over the next several weeks. Her email did not specify how many employees will be furloughed or for how long.
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