HONOLULU (KHON2) — Salary cuts are coming to more than 200 executive managerial employees at the University of Hawaii.
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This move comes as UH expects a $600 million budget shortfall as a result of the COVID-19 pandemic. University President David Lassner said that the salaries will be reduced by 9% for those who make up to $200,000 a year. For those who make more than that, there will be an 11% salary cut.
Lassner even volunteered to reduce his total compensation by 20%.
“This should convey the serious level of importance regarding our current financial situation,” said UH Vice President for Budget and Finance and CFO Kalbert Young during the Board of Regents Budget and Finance Committee meeting on Oct. 1.
UH said that the cuts will save the university $2.2 million for this fiscal year and $3.4 million in next fiscal year and beyond.
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