President Mark Yudof, using emergency powers recently granted him by the Regents, has declared a "financial emergency" at UC, which will require a reduction in payroll expenses around 8%, or 4% for those earning below 46K (here is the announcement). Eight percent is huge, coming on top of the announced resumption of retirement contributions on April 15, 2010.
Not too long ago, Yudof had announced a 5% salary reduction for senior management at UCOP, from Provosts and Chancellors on the campuses all the way up to the UC President himself. Yesterday announcement does not specify whether senior management will only take the "old" 5% cut, will take an additional 3% to bring them up to 8% like everrybody else, or wikk take the 8% on top of the 5%.
It would be interesting to know.
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