Skip to comments.Penn State cuts budgets, announces furloughs amid financial losses
Posted on 04/27/2020 4:42:37 PM PDT by abb
Citing hundreds of millions of dollars in losses, Penn State University will cut program budgets, furlough 2,000 employees at half pay, and president Eric Barron will return 10% of his monthly salary amid what he called unprecedented times.
Further furloughs and layoffs are possibilities in the new fiscal year, he said, as Penn State faces $160 million in lost tuition revenue from likely enrollment declines, on top of more than $100 million in room and board refunds and other costs since March associated with the COVID-19 pandemic.
Neither Mr. Barrons video remarks nor a university statement specified the number of employees to be furloughed. However, Penn State spokesman Lisa Powers on Monday put the number at approximately 2,000 and said they are mainly in auxiliary and plant operations.
The moves come as university leaders express growing worry about a crisis that has hit virtually all campus revenue streams, from tuition and fees to lost event revenue and hits taken by campus endowments as the stock market has swung sharply.
On Friday, University of Pittsburgh Chancellor Patrick Gallagher said he planned to donate 20% of his salary to assist his university through the crisis an amount approaching $134,000 and that his senior vice chancellors planned to return 10% of their pay.
At Penn State, Mr. Barron thanked employees for their resilience and cited the universitys traditional strength in weathering crises. But he also suggested the situation is fluid.
These challenges are compounded by uncertainties we face in predicting a return to normal, Mr. Barron said.
He said moves being implemented are based on administration deliberation in conjunction with the board of trustees.
(Excerpt) Read more at liber.post-gazette.com ...
Why not half pay like the rest?
Penn State Endowment: 4.55 billion USD
Nevada Public Employee Benefits board cuts 6 percent from budget
LSU interim president asks school leaders to prepare for budget cuts
Kent State to cut fiscal year 2021 budget by 20%
Universities are socialist indoctrination centers.
Close the “ social science “ crap, and the “ diversity outreach “ offices, and maybe you’ll have a chance to survive.
The guy makes over $850,000.00 a year...oh, my.
That is a lot of people out of work in one fell swoop.
There will be another round of layoffs Thur/Fri
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Colorado lawmakers are looking at how to close a $3 billion budget shortfall
University of Akron recommends 20 percent budget cut for athletics in new master plan
Sandusky State takes a hit. So sad.
From a friendly source: 80/20 that theyll be no students or football in the Fall.
Ped State should permanently close.
The payroll loan program does not count comp over $100,000 per year. That seems like a reasonable cap for true leaders to reduce their compel during this crisis. Taking cut to 536k seems pretentious.
When they cut the diversity and inclusion Vice Presidents and staff we know they are serious.
Did they furlough Micheal Mann?
And at many universities and colleges, the "Diversity and Inclusion" administrators are making BIG bucks. I am talking $300-$500K a year.
The Social Equity officer at the university where I work puts out training videos every 6 months or so to teach us not to sexually harass anyone and to conform to Title IX requirements. We’re also given indoctrination on thinking correctly about race, inclusion, LGBTQ+ issues, etc. She’s sent university-wide emails about wearing goofy socks to celebrate disabilities day and denim to show our support for efforts to combat violence against women. (This as the university faculty was struggling with how to redesign their classes to keep students studying in the suddenly totally online environment.) A more useless person and position I’ve never seen.
When jobs open, she reviews all job announcements to make sure they’re politically correct. She also looks at how every search is conducted to make sure protected groups are included in the list of finalists. I’m sure she makes far more than the janitors who keep the buildings repaired and clean. Their jobs are far more difficult and important than hers.
Fire these equity officers and save lots of money. Don’t lay off the truly useful people.
PSU has a great women’s volleyball team...
I guess the team will be affected...
Michigan State are about to announce the same things.
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