NEWARK, Del. (AP) — University of Delaware officials are implementing a variety of cost-cutting measures because of the financial effects of the coronavirus pandemic.
Officials said Thursday that without the cost cutting, the school would be facing a $250 million gap between revenues and expenses this academic year.
UD President Dennis Assanis said the school already has eliminated most discretionary expenses for the year and plans to draw $100 million from its endowment.
But he says personnel actions also must be taken.
The measures include a voluntary retirement incentive program, voluntary schedule reductions and layoffs.
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