Drexel University Implementing Salary Benefit Cutbacks to Address $63 Million Loss
Thursday, 10 October 2024, 11:33
Drexel University Salary Benefit Cutbacks
Drexel University is grappling with a significant operating loss of $63 million. In response, the university is enacting drastic salary benefit cutbacks targeted at senior leadership. This move includes a reduction in retirement benefits and plans for potential layoffs.
Details on the Salary Benefit Cutbacks
- Trimming salaries of senior leaders to manage expenses.
- Slashing retirement benefits for employees.
- A planned reduction in workforce by November.
While the university has conveyed its need for cutbacks, specific details about the number of jobs affected remain unclear.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.