Tag: layoffs

Pay cuts for top officials might not be enough as UM faces crisis, considers layoffs

The University of Miami stands to lose “hundreds of millions of dollars over the coming year” due to the financial havoc wreaked by the novel coronavirus, according to an email sent this week by President Julio Frenk to the Canes community.

“COVID-19 has taken many thousands of lives, hundreds right here in our community,” he said. “Compounding that loss, we are facing a significant economic disruption.”

To help offset the projected losses of closing campus this spring and summer and possibly the fall, Frenk said his administration will expand budget cuts announced earlier this month and implement new measures, including

Read more