CU Boulder Announces Pay Reductions, Furloughs

BOULDER, CO — Faculty and staff at the University of Colorado Boulder are facing pay reductions and furloughs, officials announced Thursday. Estimates on the funding shortfall show a potential $121 million to $651 million deficit for next fiscal year, the university said.

Staff and faculty who earn a salary of more than $60,000 will see a 5 percent pay reduction between July 1, 2020 and June 30, 2021, CU Boulder Chancellor Philip DiStefano said. In addition, staff and 12-month faculty — researchers and library faculty — will receive an additional 12 days of leave to use by June 30, 2021, he said.

Under the measure, university staff and 12-month faculty will have 12 days of leave to use, and part-time employees will have the number of leave days pro-rated.

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“We are facing one of the most challenging times in university history, and we do not take lightly the financial decisions we’ve made over the last few months,” DiStefano said in a statement. “We know that livelihoods are in the balance and are trying to be as creative as possible to address financial shortfalls."

By taking the measures, the university can prevent imminent layoffs and other budget cuts that would harm the university’s ability to achieve its mission, the university said. Estimates show that the temporary pay reductions will save the university around $15.1 million, according to officials.