WINNIPEG, MB – The University of Winnipeg today announced that its Senior Administration has volunteered to take pay reductions beginning April 1, 2009. The Senior Administration volunteered to take this action to support the University in achieving its student scholarships and bursaries goals, and meeting its pension obligations.
The recent downturn in the economy has affected the University’s endowment funds, which provide the majority of funding to student scholarships and bursaries. As well, a recent court decision on the University’s pension plan is affecting its operating funds.
The measures will reduce income from 10% at the President level down to 4% at the Director level. The savings from this voluntary effort will be approximately $250,000.
The University is also working in consultation with its various employee groups to determine other ways to achieve savings.
