200 UoGuelph faculty, staff accept buyouts

March 19, 2009

Nearly 200 staff and faculty at the University of Guelph have signed on for voluntary departure packages, which will save the institution about $20 million a year. Having identified an additional $10 million in savings through operating cuts, the university is now looking to find another $18 million in savings. When the Ontario government announced last fall a freeze on university spending, UoGuelph was already struggling with a $16-million deficit. In 2008, the university's pension and endowment funds dropped 9% in value. Guelph Mercury