PEORIA (WEEK) -- More than 60 employees at Bradley University have entered into a program for voluntary separation, according to a statement from the school's president.
In a letter to staff, BU President Stephen Standifird said it is a "significant step in a positive direction" to address the institution's budget issues.
"Those participating in the (Voluntary Separation Incentive Program) have been contacted by Human Resources and will soon receive all of the pertinent details regarding their separation," Standifird said.
With Bradley being a private university, it's not clear what the financial impact will be from the novel coronavirus pandemic.
However, Standifird said in his statement a finance team at Bradley is working to determine what additional savings will be needed moving forward.
"We expect information regarding the next steps in our cost containment efforts to be released in the coming weeks. Our intent is not to fill any of the open positions as a result of the VSIP and the hiring freeze unless absolutely necessary," Standifird said.
"Out of respect for those who participated in the VSIP, we will not release a list identifying the participants. Again, to those that participated in the VSIP, please know that you are and always will be part of the Bradley family. We know this was a very personal decision and we want to thank those who are leaving Bradley for their service and dedication to this wonderful institution," he continued.