Name: Georgetown U. takes steps to address $50M shortfall due to the coronavirus crisis - WTOP News
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Georgetown U. takes steps to address $50M shortfall due to the coronavirus crisis - WTOP News

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|||{{headline}}D.C.'s Georgetown University says it will withhold merit raises and stop contributions to employee retirement plans, as it responds to the financial impact of the coronavirus pandemic.D.C.’s Georgetown University is facing a $50 million shortfall and will make belt-tightening moves, such as withholding merit raises and stopping contributions to employee retirement plans, as it responds to the financial impact of the coronavirus pandemic.In a recent letter to the school community, Georgetown University President John J. DeGioia said a number of steps will be taken as to stem the financial toll of the coronavirus crisis.that he wrote, “will strengthen our position to respond to the uncertainty of the coming year.”Among them:DeGioia’s May 12 letter stated the steps will offer “more than $100 million in cost savings that will enable us to address our current shortfall of $50 million and prepare for the uncertain financial picture for the Fall term.”The school also announced a nine-week for eligible employees, plus a .An outline of Georgetown’s plan for opening in the fall is expected “in the coming days,” DeGioia wrote.The coronavirus pandemic has forced many schools, , to make moves similar to Georgetown University’s actions.Georgetown previously announced it would honor its class of 2020 virtually, with . The medical school will hold a separate online ceremony on Sunday, May 17.||||||||Like WTOP on and follow WTOP on and to engage in conversation about this article and others.Get breaking news and daily headlines delivered to your email inbox by signing up .© 2022 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.Log in to your WTOP account for notifications and alerts customized for you.

|||{{headline}}D.C.'s Georgetown University says it will withhold merit raises and stop contributions to employee retirement plans, as it responds to the financial impact of the coronavirus pandemic.D.C.’s Georgetown University is facing a $50 million shortfall and will make belt-tightening moves, such as withholding merit raises and stopping contributions to employee retirement plans, as it responds to the financial impact of the coronavirus pandemic.In a recent letter to the school community, Georgetown University President John J. DeGioia said a number of steps will be taken as to stem...

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Georgetown U. takes steps to address $50M shortfall due to the coronavirus crisis - WTOP News

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