Northwestern University offering buyouts to some employees

Northwestern University is offering employee buyouts in hopes of shedding between 150 and 200 jobs, part of the continuing fallout from the coronavirus pandemic, a university spokesman said Tuesday.

“We made this decision because, despite signs of renewed economic activity, we still anticipate reduced revenues and additional expenses next fiscal year related to the pandemic,” Jon Yates, a Northwestern spokesman, said in a statement.

About 4,000 employees are eligible to apply for a buyout.

The buyouts are intended to head off the possibility of further furloughs or layoffs, Yates said. Staff members have until June 30 to apply.

This week’s announcement comes after the university announced in mid-May that it expected a total shortfall of about $90 million for the 2020 fiscal year. At the time, officials said they planned to temporarily suspend contributions to retirement plans, and furlough 250 staff members “whose workloads are being reduced during the move to limited and mostly remote operations.”