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Posted: 3:57 PM Feb 27, 2010
Alabama A&M to offer buyouts to 280 employees
HUNTSVILLE, Ala. (AP) - Alabama A&M University trustees have decided to offer buyouts to 280 veteran employees as part of budget-cutting measures due to state proration.
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HUNTSVILLE, Ala. (AP) - Alabama A&M University trustees have decided to offer buyouts to 280 veteran employees as part of budget-cutting measures due to state proration.
The A&M board of trustees voted unanimously to offer packages of
six months' pay to employees who have 25 years of experience or are
age 60 with 10 years' experience.
Charles Rucker, vice president for business and finance, estimates 43 will take the buyout.
He tells the Huntsville Times in a Saturday story that will lead to net savings of $1.8 million by the end of fiscal 2011 and $2.7 million by the end of fiscal 2012.
A&M is coping with a 7.5 percent state budget cut this fiscal year and University President Andrew Hugine Jr. said the school's funding is down $18 million over the past two years.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
