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05-30-2009, 01:16 AM #1
UC executives to take 5 percent pay cut
UC executives to take 5 percent pay cut
By James P. Sweeney, U-T Sacramento Bureau
8:09 p.m. May 29, 2009
SACRAMENTO — University of California's president, its chancellors and other top executives will take a 5 percent pay cut as the university prepares a broader response to deep budget reductions imposed by the state.
The move, effective July 1, will trim probably less than $1 million from the salaries of some 30 ranking administrators, starting with UC President Mark Yudof, who announced the decision Friday in an internal letter.
But it sends a signal to the balance of the 10-campus system that furloughs, pay cuts and layoffs may be inevitable as the university confronts a $500 million-plus cut in state funding.
“Given the magnitude of the budget shortfall, all options need to be considered, and, unfortunately it is likely that every member of the UC community will be affected negatively,â€NO AMNESTY
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