VSOs offered to prevent future S.O.S.
Everton Bailey, Managing Editor
Issue date: 2/10/10 Section: News
More than two-thirds of full-time St. John's employees have been offered buyouts, according to University officials.
At the end of January, University President Rev. Donald J. Harrington sent an internal e-mail stating full-time St. John's employees would be receiving Voluntary Separation Offers in an effort to maintain a balanced budget.
According to Dr. James Pellow, executive vice president and COO, a VSO is "an opportunity for an employee to, on a voluntary basis, separate or terminate from the institution and receive a series of benefits."
More than 1,700 full-time St. John's employees have been offered VSOs including 357 faculty members and 1,345 administrators and staff. The University employs more than 2,100 full-time employees and more than 3,000 altogether.
All eligible employees have been notified and have until March 12 to accept the offer. Once they accept, they will have seven days to reconsider.
Pellow said the upside of the VSOs is that it will make the University more financially flexible.
"This is a great opportunity for us," he said. "It's going to be hard, it's going to be painful in some areas, but at the end of the day, the institution is going to come out so much stronger because it's provided us the opportunity to rethink how we approach student service and enhance academic quality.
"We hope to make sound repositioning decisions," Pellow added. "We're looking very carefully and in great detail at our marketplaces."
To determine eligibility, each employee was given a score based on a combination of their years of service and age to determine their eligibility. Faculty members with a score of 65 or over fall under the eligibility list while 60 is the cut-off number for administrators and staff.
Facility members who accept the VSOs will receive a package of two years pay and up to five years of medical benefits.
Administrators and staff could receive packages up to two years salary and three years of medical benefits.
At the end of January, University President Rev. Donald J. Harrington sent an internal e-mail stating full-time St. John's employees would be receiving Voluntary Separation Offers in an effort to maintain a balanced budget.
According to Dr. James Pellow, executive vice president and COO, a VSO is "an opportunity for an employee to, on a voluntary basis, separate or terminate from the institution and receive a series of benefits."
More than 1,700 full-time St. John's employees have been offered VSOs including 357 faculty members and 1,345 administrators and staff. The University employs more than 2,100 full-time employees and more than 3,000 altogether.
All eligible employees have been notified and have until March 12 to accept the offer. Once they accept, they will have seven days to reconsider.
Pellow said the upside of the VSOs is that it will make the University more financially flexible.
"This is a great opportunity for us," he said. "It's going to be hard, it's going to be painful in some areas, but at the end of the day, the institution is going to come out so much stronger because it's provided us the opportunity to rethink how we approach student service and enhance academic quality.
"We hope to make sound repositioning decisions," Pellow added. "We're looking very carefully and in great detail at our marketplaces."
To determine eligibility, each employee was given a score based on a combination of their years of service and age to determine their eligibility. Faculty members with a score of 65 or over fall under the eligibility list while 60 is the cut-off number for administrators and staff.
Facility members who accept the VSOs will receive a package of two years pay and up to five years of medical benefits.
Administrators and staff could receive packages up to two years salary and three years of medical benefits.
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