Laurentian announces financial hardships due to COVID-19

April 30, 2020

Laurentian University has announced that it is “facing significant financial challenges arising from COVID-19.” A statement from the school explains that alongside pre-existing financial pressures, COVID-19 will require Laurentian to amend and accelerate its sustainability plan to address a shortfall of approximately $15M in the 2020-21 fiscal year. Laurentian is now amending its financial forecast and has taken a number of immediate actions to mitigate financial risks including suspending new hiring and reducing casual, part time, and limited term contracts. “These difficult decisions were not made on the basis of performance, but rather, on the basis of our financial challenges,” stated Laurentian Vice President, Administration Lorella Hayes. “We thank our colleagues and workforce for their immense contributions to the University.” Laurentian (ON)