NEWARK, Del. — Officials at the University of Delaware say they are moving to cut personnel costs because of the financial effects of the coronavirus pandemic.
School President Dennis Assanis said Thursday that without cost cutting, the university would have a $250 million gap between revenues and expenses this academic year. He says the school already has eliminated most discretionary expenses for this year and plans to draw $100 million from its endowment, but personnel actions must now be taken.
The new effort includes a voluntary retirement incentive program and encouragement for employees to temporarily scale back their work hours. But Assanis says planning is also underway for non-voluntary layoffs as well.