TULSA, Oklahoma - The University of Tulsa will be cutting more than 40 positions as part of a money-saving strategy.

The university announced they'll cut 43 non-faculty positions, plus, TU won't fill the nearly 20 positions open right now.

In addition, starting next month, the school will temporarily stop making contributions to retirement for all employees.

And they are placing a voluntary salary reduction of TU's highest paid employees.

With guidance from the Board of Trustees, TU released a full report of changes to be made:

  • Workforce reduction – We will trim the size of our workforce by 5%, a reduction that will result in the elimination of 43 non-faculty positions. An additional 19 vacant positions will not be filled. The hiring freeze for all open, non-endowed university positions will remain in effect. 
  • Voluntary Salary Reductions – Voluntary salary reductions will be implemented for TU's highest paid employees.  These voluntary salary reductions range from 6% to 20% and involve all senior members of my administration
  • Benefit Change – Effective October 1, 2016, the university will temporarily suspend contributions to retirement for all employees.  However, employees may continue to make contributions on their own to the plan.  A restructured matching contribution retirement plan will be announced at a later date. 
  • Benefit Change – Effective January 1, 2017, TU will no longer pay for long-term disability insurance coverage.  Such coverage will still be available to employees, but at their own expense.
  • Operational Efficiencies – We will implement several changes to current practices that will result in greater operational efficiency and cost savings.  Areas being examined include centralized purchasing, tighter regulation of environmental controls in buildings, use of alternative energy sources, and delivery of services to off-campus sites. 
  • Other Cost Savings – There are a number of additional non-personnel cost saving measures specific to various departments and divisions that will be communicated by vice presidents and deans to department chairs and supervisors.

The university said the decisions are tough, but by taking action now, it puts them in a “position to examine areas of our enterprise carefully and strategically for investment or further expenditure modifications.”