Staff reductions completed to reach cost-savings goal
Princeton University has completed efforts to achieve the staff reductions necessary to help meet an overall goal of decreasing the operating budget by $170 million over two years. The staff reduction target of $15 million has been achieved through a combination of vacancy and overtime savings, voluntary retirements, voluntary and involuntary reductions in duty time, and layoffs.
A total of 43 positions have been eliminated and an additional 18 positions have been involuntarily reduced in hours. There will be no further layoffs or involuntary reductions as part of the current two-year budget-reduction plan.
Decisions about staffing reductions and reorganizations were made by individual departments, which have been asked to reduce spending over the two years ending in fiscal year 2011.
The number of layoffs is lower than previously expected because of the success of the University's vacancy review process, which assesses the necessity of filling vacant positions, and the Voluntary Incentivized Retirement Program, through which 145 retirement-eligible employees chose to retire.
When possible, the Office of Human Resources will work with hiring managers to match the skills of the employees whose positions are being involuntarily terminated to provide opportunities for them to apply for other positions at Princeton. Some of the positions vacated by employees taking advantage of the VIRP will be filled as the retirements take effect, while others will be left vacant. Efforts already have begun to re-employ in other positions employees whose positions are being eliminated.
The 43 layoffs occur across the University and at various job levels. While all employees affected by the layoffs will leave the University by the end of the fiscal year, on June 30, 2010, the actual date of departure of laid off employees will vary from case to case, depending on the circumstances of the particular position and office, as well as the preferences of the employee.