University of Oshkosh President Andrew Leavitt announced in an email late Wednesday afternoon the school’s next voluntary retirement incentive program.
He wrote: “As many of you know, the Voluntary Retirement Incentive Program provides eligible employees with the opportunity to retire earlier than planned or considered by paying a portion of their salary as incentives. I continue to believe that this type of program is a humane, efficient, and effective strategy to honor long-serving employees and help keep them aligned with UWO registration. I’m here.
“The good news is that we are seeing strong enrollments in the fall 2023 freshman classes and growing confidence that student retention will improve. It is expected to keep costs under control: With over 80% of UWO’s budget invested in human resources, personnel costs will need to be addressed to strengthen the university’s financial base in the short term. The Voluntary Retirement Incentive Program will help further stabilize the institution’s annual finances and, in the long term, help strengthen UWO’s reserves, which is a key component of UWO’s stability.”
Employees covered by the Retirement Incentive Program and their supervisors will be contacted within two weeks with details of notification requirements and deadlines. Interested employees must leave by January 10, 2024, based on payment method.