Kent State to Offer Second Round of Voluntary Employee Buyouts
Kent State University’s Board of Trustees approved a second round of voluntary buyouts for eligible full-time faculty, Cleveland.com reported. This comes as part of Kent State’s efforts to cut costs amid the COVID-19 pandemic.
The first round of this voluntary separation incentive program took place in May, wherein 292 faculty and staff took the buyouts to get approximately three months salary and benefits for a limited time, saving the school approximately $26.5 million.
Kent State also offered a ‘voluntary transitional opportunity’ for retired faculty members to return on a part-time basis.
The school has had higher enrollment than expected and seems to be stabilizing financially.