Message from UT System regarding UTMB

[Lisa0825]

:-(

http://www.utsystem.edu/News/2008/BOR-Statement-UTMB-11-12-08.html

Detailed financial analysis shows that UTMB's current rate of expenditures, including the continuation of wages and benefits for faculty and staff who have not returned to work, exceeds revenues by almost $40 million per month. UTMB will deplete its financial resources and reserves in approximately three months, leaving the institution in the untenable position of having no funds to continue to operate;

(snip)

Therefore, as fiduciaries of UTMB and stewards of its future, with the desire to best ensure its long-term viability for its employees and the community, and in the absence of immediately available operating funds from state and local sources or philanthropy, the Board finds that a financial exigency exists at UTMB and instructs the U. T. System to work with President Callender to implement a reduction in force of approximately 3800 full-time equivalent positions, including personnel actions discussed in Executive Session.

[PDittie]

1. When is your last day, pumpkin?

I know you will be fine no matter what. :hug:

[Lisa0825]

2. I don't have an end date yet. This is just the beginning... we were all waiting

for the official announcement. I was already told by my supervisor that my job would be affected by the cuts. You just don't need many recruiters when you aren't going to be doing any hiring for a long long time.... go figure.

I am hoping to have a job a couple more months before it gets wrapped up.