Syracuse University offers voluntary buyout program to employees

SYRACUSE, N.Y. — Syracuse University announced it is offering a voluntary, employee-buyout program to some staff members as it seeks to reduce the size of its workforce.

The university is calling it a “voluntary separation incentive program” for “qualifying non-faculty, benefits-eligible staff,” according to a news release posted Tuesday on the school’s website.

The release also included the email that Andy Gordon, senior vice president and chief human-resources officer, sent to Syracuse University employees.

“The goal is to give those employees who would like to pursue a career or life change the necessary support to do so. The program is designed to realign the staff workforce in a proactive, positive way that better reflects our strategic academic and student-experience priorities and reduces the likelihood of future staff reductions,” Gordon contended in the email.

Syracuse University didn’t say how many employees were eligible for the buyout. The school currently has 4,400 total employees, including 1,100 faculty members, according to CNYBJ Research.

Beginning Wednesday (July 1), staff members whose age plus years of service equals 65 or more will be eligible to receive “enhanced benefits designed to help them pursue new opportunities,” Gordon’s email said.

Those eligible may “voluntarily” choose to leave the university before Dec. 31.

Syracuse University will offer a single cash payment equal to 50 percent of an employee’s base annual salary as of their separation date, minus applicable taxes and withholdings.

The school will also offer participating staff “enhanced” medical, dental, and vision-plan subsidies.

Eligible employees need to decide if they want to participate in the program no later than Aug. 5, the email said.

Syracuse University has posted a Frequently Asked Questions guide about the program on its website.

Contact Reinhardt at ereinhardt@cnybj.com