Algoma University is carrying on with its goal of having 3,000 students enrolled across its three campuses.
However, there may soon be a few less Algoma University employees (or new faces replacing older ones) if some of the institution’s longer-serving staff members choose to accept a voluntary retirement incentive program rolled out to them by the university earlier this week.
150 employees were reviewed throughout the Algoma system, 25 approached with the retirement incentive program, said Robert Battisti, Algoma University vice president of finance and operations, speaking to reporters after Thursday’s university board of governors meeting.
Those employees were approached on a combination of age and years of service as full-time Algoma University employees.
“We had good conversations with our internal community, with our union presidents, we reached out to different universities to see how they would’ve structured it. Working with our team here, we then developed a package that’s fair and consistent to each group. There was a lot of thinking behind it. It’s a thorough package which we believe is fair,” Battisti said.
The package applies to faculty, staff and administration alike, to promote what Algoma calls ‘employee renewal’ and cut the deficit hitting some academic departments with low student enrolment.
The employees have until July 31 to decide on Algoma’s voluntary retirement incentive offer, Battisti said.
“We’ll have our employees review it and decide. It’s all voluntary, so we’ll let them come back with their information.”
Cost savings as a result of retirements won’t necessarily be seen in 2019-20, Battisti said, but are anticipated in future budgets, likely beginning in 2020-21.