UT consolidates services, eliminates 500 jobs

AUSTIN – University of Texas announced it will eliminate about 500 jobs under a plan that calls for consolidating finance, personnel, information technology and purchasing functions that are currently scattered among various university units.

The plan will save money, improve services and ensure that the vast majority of staff reductions would be achieved through retirements, voluntary resignations and other attrition.

Titled “UT Shared Services Plan,” the plan projects savings of up to $140 million after ten years, with continuing savings of up to $40 million annually.

UT has about 20,000 full-time and part-time employees, including staff and faculty members. The plan does not call for eliminating any faculty jobs.

Read more at the Austin American-Statesman.