Cash-strapped University of California hands out millions in raises

Nanette Asimov:

The University of California will spend $140 million raised from increased student tuition, general fund money and other UC sources to give merit raises to thousands of faculty members and nonunion employees earning up to $200,000, UC officials said Wednesday.

UC is experiencing what officials have called the worst financial crisis in its history, losing million of dollars in state funding over the last few years while steadily raising tuition and laying off employees to compensate.

But the regents also agreed in November to set aside money for merit raises. Faculty have consistently received such raises during the last few years, but the salaries of nonunion staff members have been frozen for four years.

Posted by Jim Zellmer at August 20, 2011 2:39 AM
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