Trustees move forward with voluntary separation incentive
The UofL Board of Trustees has approved moving ahead with a proposed voluntary separation incentive program for qualified employees.
The program will offer a financial incentive and other benefits to employees who meet certain criteria and agree to separate from the university. Several trustees praised the plan for being a creative way to reward long-term employees, fund new initiatives, trim tuition increases and provide salary increases for faculty and staff. The program is expected to save the university at least $2.5 million next year.
Provost Shirley Willihnganz told the board that more than 300 faculty and staff have expressed interest in the program. Employees have until March 15 to submit a non-binding, confidential expression of interest. Those who accept the incentive will have until May 1 to finalize the agreement.