BU President Robert Brown said, however, there is the possibility some furloughed employees might be moved into other jobs in the coming weeks. Employees will be told individually about these opportunities in July.
Resorting to layoffs and furloughs came after huge cuts to expenses failed to plug the university’s huge revenue gap. Brown said cuts to operational expenses slashed the $264 million revenue shortfall by more than half. The university still has to contend with a deficit of nearly $100 million, he said.
Later, the IBT story notes
Brown revealed salaries of faculty and staff was frozen. The salaries of BU’s most senior executives were reduced by 10% to 20%, and the university’s contributions to employee retirement funds were frozen.
The news from Boston U is the latest in a string of cuts coming to Massachusetts-based colleges and universities.
The changes come “in recognition of the extraordinary circumstances and of this academic year and the uncertainty we face in the year ahead,” the Williamstown, Massachusetts, school said in a statement Monday.
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