Temple University Facing Budget Shortfall of $60 Million
“President John Fry said he asked departments to reduce compensation costs by 5%.”
That is not chump change. That’s the sort of figure that causes organizations to go bankrupt.
WPVI News reports:
Temple University faces $60M budget shortfall; layoffs could come after July 1
Temple University plans to cut jobs to make up a possible $60 million budget shortfall in the upcoming fiscal year.
In a letter to the university, President John Fry said he asked departments to reduce compensation costs by 5%.
University officers and deans will also forgo salary increases.
The school has lost $200 million in tuition because enrollment has been down drastically since 2017.
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Comments
DEI out the Ying Yang, no wonder they are going broke. I bet that more than half their issued degrees are worthless.
They can fix their financial problems by closing all useless majors and departments.
I guess charging students over $50,000 didn’t work out as the kids and parents finally started to realize the price tag wasn’t worth it. As enrollment started to decrease the university reacted by increasing it’s administration especially DEI offices and staffs then raised tuition to pay for it. Odd that people would notice and come to the conclusion that all of that did nothing for their education and job prospects afterwards.