Cleveland State University said this week that 27 faculty and 27 staff took buyouts this month, part of an effort to cut back on costs as the university tries to adjust its operations after years of enrollment declines.
The university used about $9 million in reserves to fund the voluntary separation and retirement plan back in April, which provides financial incentives to employees with 10 or more years of experience to leave the institution.
About 334 employees were eligible for the plan, said spokesperson Reena Arora-Sánchez. In total, CSU had 862 full-time staff and 524 full-time faculty before the buyouts.
More employees could still choose to take the buyout between now and December, Arora-Sánchez said in a statement Tuesday.
"Final numbers (including estimated cost savings) are pending those who also plan to offboard in September 2024 and December 2024, respectively," she said in an email.
Signal Cleveland reported this week that the board of trustees approved another $6 million to fund the separation incentives program. Separate from that program, the university also confirmed last week it had laid off 14 staff across all departments.
Elsewhere in Northeast Ohio, Baldwin-Wallace University announced it was cutting 23 staff in February, while Notre Dame College in South Euclid was shuttered in May; meanwhile, Eastern Gateway Community College in Steubenville and Youngstown will close by the end of October.
