According to a recent board of trustees meeting, Wright State could possibly be losing 170 positions in an effort to cut $32 million from the budget.
These 150 positions would be comprised of 50 vacant positions and 120 layoffs. An estimated $4 million would be saved from these 30 to 50 positions, and an estimated $7 million would be saved from the layoff of 80 to 120 positions.
This board of trustees meeting discussed the first ideas to correct the current financial situation, which includes initially cutting $25 million to correct an overspending of $40 million and rebuilding the reserves, according to the Dayton Business Journal.
The university is looking to cut $8 million from operations, $6 million from the voluntary retirement program, $4 million from budgets from the Lake campus and the Boonshoft School of Medicine, $2 million from attrition and $1 million from graduate research waivers.
It is projected the university's reserves will fall to $26 million, which is higher than original speculations. However, according to recently elected chair Doug Fecher, drastic changes need to be made to prevent the reserves from going into the negatives.
Plans to enact these cuts will be done prior to the arrival of Cheryl Schrader on July 1.
The final draft of cuts is expected to be released on May 19.
