Buyouts, possible layoffs as Tulane deals with deficit
NEW ORLEANS - Tulane University's president says employees will soon receive information on buyout offers. And he says that the university may have to lay people off if too few employees choose to leave.
President Mike Fitts says in a message distributed to Tulane employees on Tuesday that details will be released Oct. 21 on the "voluntary separation program" for those wishing to retire or seek other jobs.
The move comes as the university works to trim an annual budget deficit of $15 million to $20 million.
Other cost-cutting measures mentioned in Fitts' message include renegotiation of a university energy contract and changes in travel and health care management.
Also, changes in overtime, sick leave and vacation policies will take effect next July.
Fitts is entering his second year as Tulane's president.