.... keep him safe.
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. Barron’s 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 university’s 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 ...
Thank you. Penn State is sitting on BILLIONS of dollars of money and crying poor mouth.
LEFTIST Universities hold almost a TRILLION dollars in Endowment and many still get taxpayer money.
It is a scandal WAITING for Trump to take on.
Has the State Pen locked up the Mann yet?
Actually why are they receiving half pay? Since they are not performing communist indoctrination, they should be filing for unemployment, food stamps, etc. like the rest of the unwashed masses.
Bookmarking
You have said a mouthful! We have that same $hit at Kansas State.
Michael “Piltdown” Mann should be the first to be fired and thrown in jail for climate fraud.
.... keep him safe.
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