By Mark Scott
Buffalo, NY – The University at Buffalo is responding to the budget crisis by offering eligible faculty and staff buyouts.
UB officials have introduced what they're calling the Voluntary Separation Incentive Program. It would give qualified employees who are aged 55 or older an opportunity to leave with some extra compensation. It's expected that at least a couple hundred employees will take advantage of the incentive. Employees have until June 30th to make a final decision. If they accept the buyout, some will receive a lump sum payment totaling half their yearly salary. Others may opt for their full salary over six months.
UB faces cuts of more than $16 million for the 2010 and 11 academic year. Officials say they're trying to be progressive and strategic in dealing with reductions in the budget.
"The plan that we have put forward is a voluntary plan, and a way in which the university can recognize, in a positive way, the contributions of its staff and faculty, and allow them to leave the university in a manner that's consistent with other objectives in their life," said Scott Nostaja, vice president for human resources and chief of staff to President John Simpson.
For the university, "it's another tool to reduce costs," he says.