LEXINGTON, Ky. - The coronavirus pandemic is leading to furloughs and layoffs at the University of Kentucky.
UK President Eli Capilouto says the university is grappling with a $70 million budget shortfall. $40 million of that results from declines in tuition revenue and investment income related to COVID-19.
To close the gap, Capilouto says every college, department and unit at UK will face budget cuts of 10 percent.
There will be 90-day furloughs for employees in departments where work has ceased or can't be done remotely because of the pandemic. There will also be some layoffs.
Capilouto says there will be no merit raises for the coming year, and the university is reducing by half the retirement contribution to UK employees.
Photo Credit: University of Kentucky