USC interim president weighs in on unprecedented financial crisis

"Aiming to eliminate a budget deficit that ballooned to more than $200 million, the private school has cut nearly 1,000 positions, or almost 4% of its workforce. Faculty and staff said that the layoffs have been especially stressful because they have been ongoing for months, although the university said last week that they are nearly complete - and that as many as 200 of those who lost their jobs could find new positions at the school."

"Other cost-saving measures have included restrictions on discretionary spending, such as travel for conferences. 'There's a sense of just fear and anxiety among all staff. Even those who are safe don't know if this is just the first phase of many future cuts,' said Phil Turner, associate director of USC Housing, who spoke to The Times as an employee and not in an official capacity."

The University of Southern California is conducting an aggressive cost-cutting campaign to eliminate a budget deficit that exceeded $200 million. The private university has cut nearly 1,000 positions—almost 4% of its workforce—and implemented restrictions on discretionary spending such as conference travel. Layoffs have occurred over several months, producing fear and anxiety among staff; up to 200 employees who lost jobs may be rehired into new positions. Interim President Beong-Soo Kim cited internal and external contributors including COVID-19 expenses, rising athletics costs, and major legal settlements. The university says the rounds of layoffs are nearly complete.

Read at Los Angeles Times