UR is cutting spending on faculty and staff to mitigate the financial blow dealt to UR by COVID-19.
The combination of new expenses incurred by the Medical Center and the loss of revenue from students living on campus has resulted in a significant drop in finances for UR, said a letter from administrators announcing the cuts on Wednesday.
The letter was signed by University President Sarah Mangelsdorf, Provost Robert Clark, and Vice-President and Chief Financial Officer Holly Crawford.
Among the changes announced were furloughs (leaves of absence) for some staff, a freeze on hiring for all positions offered after March 20, and the cancellation of merit-based increases to employee wages in 2021.
Additionally, the wage compression program that will raise salaries for employees affected by the mandate to increase minimum wage to $15 has been put on hold. All capital spending that isn’t necessary for patient care, safety and infrastructure, or a contractual requirement has been delayed, and senior leadership at the University and at the Medical Center will be taking pay reductions of up to 18%.
The University Government Relations team will be working to maximize funding sources using “programs developed to mitigate the financial challenges created by this pandemic,” said the letter.