Lehigh University to Announce Pay Cuts Due to $40 Million Dollar Deficit
“Additionally, all university retirement contributions to active employees will be temporarily suspended.”
Furloughs are coming as well. This is because of the Coronavirus crisis.
Morning Call reports:
Lehigh University, facing $40 million deficit, latest college to announce furloughs, pay cuts because of coronavirus pandemic
Lehigh University is the latest area college to announce it is furloughing staff and imposing pay cuts on senior leadership to defray a budget deficit because of the coronavirus pandemic.
The Bethlehem university announced Monday that President John Simon will take a 20% salary cut, while all senior university leadership and college deans will take a 10% salary cut. Lehigh also will furlough some staff who cannot perform duties remotely starting July 1, although an exact number was not given.
In the announcement, Lehigh said it is bracing for a $40 million budget deficit for the fiscal year beginning July 1.
Additionally, all university retirement contributions to active employees will be temporarily suspended.
“We believe the actions we are now taking are necessary and prudent given the current outlook and the uncertainties of the future,” Simon said in an email to the campus community. “We recognize they require sacrifice by members of our community, and even a substantive change in the way some of us operate. While painful, they are needed to allow us the flexibility to respond and adapt.”
DONATE
Donations tax deductible
to the full extent allowed by law.
Comments
I’m torn between my sympathy for people whose lives have been so greatly affected by the virus response, and schadenfreude over the temporary derailing of the academic gravy train.
I’ll opt for sympathy, because I know a lot of people whose lives have been turned upside down through no fault of their own. But it’s a close call.
They hired wayyyyyy too many administration heads in 2013-2017
Oddly, this looks like what the Robber Barons did back during the “Gilded Age.” So, I guess, bad for the Robber Barons, but good for Academia? Hypocrites teaching others to be hypocrites.
You have to have a heart of stone not to laugh at these members of the professoriate who have transmitted their hatred of America to a generation and more of young people who emerged from high school knowing nothing about what used to be called civics while having Marxism lite and racial grievance stuffed into their heads. After four years of college and more years of post graduate time-wasting they came out to an economy almost entirely ignorant of not only the history earlier generations absorbed but of any useful skills. The latest product of this program of indoctrination can be found on the streets sacking and looting because they are unemployed and under-employed and looking for a good time.