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 1Temple 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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