YOUNGSTOWN, Ohio (WKBN) – Youngstown State University President Jim Tressel announced that he will be taking a 15% pay cut, and other cuts will be made, including to other salaries, in an effort to save money.
The university is taking these actions to make up for lost revenue during the COVID-19 pandemic. All learning is now taking place remotely, and Spring Commencement will be held virtually.
Tressel said more than 100 other excluded personnel will also be taking a temporary salary reduction between 2 and 10%, based on their salaries. Those savings will be around $700,000, he said.
Healthcare contributions will increase for excluded personnel from 15 to 20%.
Possible furloughs, layoffs, restructuring and other actions are under consideration.
All university-sponsored travel has been paused, and the university is in the middle of a hiring freeze, according to Tressel.
Tressel made the announcement Tuesday morning in a message sent to YSU employees.
“Our promise to you: the health and safety of our students, employees and visitors will remain paramount; we will make decisions through a shared vision and understanding that all of us play important roles in the wellbeing of the university. Ultimately, the YSU Board of Trustees and the authority vested in I will make the very difficult decisions to take charge of our future in this pandemic moment,” the letter read.