Northern Caribbean University (NCU) has announced a 10-per cent salary cut for all its employees effective June 1 in response to reduced revenue inflows caused by the COVID-19 pandemic.
NCU says further salary reduction is pending if the institution’s financial position does not improve to meet future payments.
In making the announcement to workers during a virtual meeting on Monday, NCU President Dr Lincoln Edwards said that the pandemic arrived at a time when the university had been steadily improving its fiscal position through rationalisation of the workforce, savings from increased efficiencies and the implementation of a growth agenda.
Edwards also said that the advent of the pandemic had dried up sources of income for many students through the Colporteur ministry or overseas work.
The announcement of the cost containment measures comes ahead of a media-thon to be hosted on Sunday, May 24 by the NCU Alumni Federation as part of efforts to raise US$ 2 million towards the NCU COVID-19 Scholarship Fund, which will assist students experiencing financial challenges.
