UC Regents Approve Pay Cuts

Bay City News Service
Thursday July 16, 2009 - 02:25:00 PM

The University of California Board of Regents Thursday morning voted unanimously to approve a plan that will institute employee furloughs along with other cuts and fee hikes to offset an anticipated $813 million budget shortfall. 

The plan, adopted at a board meeting at the UCSF Mission Bay campus, will force more than 108,000 members of the UC’s faculty and staff to take anywhere from 11 to 26 furlough days, with higher earners being forced to take more furlough days and steeper pay cuts. 

The furloughs are expected to eliminate about a quarter of the budget deficit. The rest of the savings will come from previously approved student fee increases, debt refinancing and cuts spread across the 10 UC campuses.