COLUMBIA, Mo. — The University of Missouri, Columbia announced it will be looking to cut costs through layoffs, furloughs, pay cuts and restructuring.
"We have taken several actions - including reducing office and travel expenses, voluntary pay reductions among university leaders, and hiring restrictions - but we still find ourselves facing significant budget pressures and must do more," UM System President and interim MU Chancellor Mun Choi said in a statement. "We are grateful to these employees and will provide services, support and transition packages during this difficult time."
MU said administrators plan to release information each Friday about personnel actions that affect the academic campus as well as MU Health Care.
As of May 1, MU reports:
- 49 layoffs, which includes 32 layoffs in MU Health Care
- No furloughs
- School of Medicine faculty will have pay reduced 10% for one to three months based on salary structure. School of Medicine Staff will take a 10% pay reduction for three months or a one-week unpaid furlough based on department needs
- 195 MU employees have volunteered for pay reductions at an estimated savings of $800,000
- 390 UM System leaders, senior administrators and other employees have volunteered for pay reductions at en estimated savings of $1.5 million
"It's clear the effects of this crisis will present a long-term funding challenge for us and higher institutions across the country," Choi said. "Temporary measures will not address the budget situation or protect the mission of the university. We must respond in fundamental ways, re-evaluate our structure and invest in priorities that are important to our future. This will mean re-alignment, restructuring and loss of positions."
