New president: University of Oklahoma layoffs possible
The Associated Press - June 23, 2018 10:10 am
(Information from: Tulsa World, http://www.tulsaworld.com)
NORMAN, Okla. (AP) – University of Oklahoma’s incoming president says the school could see layoffs as it faces a $15 million operating loss for the coming fiscal year.
Jim Gallogly told the Tulsa World on Thursday that he may have the university look at non-faculty staff for more efficiency when fixing the fiscal hole he’ll inherit after taking over as president July 1.
The university’s Board of Regents has passed a preliminary budget, but Gallogly says he plans to revise it when he assumes the job.
Financial documents show payroll is among the university’s largest expenses. The school spent $547.4 million in compensation and benefits for fiscal 2017, up from the previous year’s $513.5 million.
Gallogly says he’ll “hold the line” on tuition after years of increases to raise revenue.