University of Kentucky to use contingency fund to save jobs
The University of Kentucky's president says the school will use portions of its contingency fund to save nearly 100 school jobs during the next fiscal year amid continuing furloughs.
The announcement comes as 100 additional academic employees were furloughed Friday. The school furloughed about 1,700 academic and UK HealthCare employees last month due to revenue shortfalls related to the coronavirus outbreak. The school says many of the healthcare workers have since returned.
The Lexington Herald-Leader reports the money in the contingency fund largely came from savings the school made after it cut back on employee’s retirement funds.