Johns Hopkins University says it expects to lose hundreds of millions of dollars by 2021 due to the coronavirus pandemic, the university's president said in a letter to employees notifying them about sweeping changes and pay cuts to help the school weather the storm.
UNIVERSITY SAYS IT EXPECTS TOFURLOUGH AND LAY OFF WORKERSDUE TO BUDGET SHORT FALLS.
ANDIT ALL STEMS FROM THECORONAVIRUS PANDEMIC.
THEUNIVERSITYANNOUNCED SWEEPING CHANGES ANDPAY CUTS TO HELP THEUNIVERSITY WEATHER THE STORM.WMA━2 NEWS RAY STRICKLAND HASTHE STORY.JOHNS HOPKINS UNIVERSITY'SPRESIDENT SAYS THE SCHOOL ISNOT IMMUNE TO THE IMPACT OFTHIS PANEDMIC.ADDING ITEXPECTS TO LOSE HUNDREDS OFMILLIONS OF DOLLARS BY 2021 ASA RESULT 475 million dollarsis what John Hopkinsuniversity is expected to loseby June 2021 due to thecoronavirus pandemic.
TheuniversityDaniels wrote in a letter toemployees SAYING leaders willtake pay cuts and that therewill be pay freezes forfaculty and staff.
He alsosays furloughs and layoffs areexpected.
Calling it ”anunavoidable consequence of thelosses we are experiencing”Among those financial lossesinclude missing out on tuitionand research revenue.
But,Daniels says the university islosing the most money becauseof the reduction of electiveprocedures.
A projected lossof 100 million dollars by theend of june.“In the advanceof the expected surge, theemptied out to make roommostly by canceling electiveand non urgent procedures sothereand at the same time costdo“ Bob Atlas isthe president of the MarylaHospital Association.
He saysthe use of hospitals is down30 percent state wide.“Acrossall of the hospitals inmaryland we are perfectiabout a billion dollarsrevenue short falls for thethree months april may june”Atlas says money from thefederal governmenpackage could help, but itwo“That willhelp fill the whole, it willnot completely fill thewhole” Daniels telling hisemployees while announcing thecuts that the challenges frompandemic ARE unlike anythingwememory, but that“it is onethat we can and willovercome” And researchershere at Johns Hopkinsuniversity have been in manways leading the response toCOVI━19.
The universitysaying tonight that these cutswill not effect their covi━19efforts.
Reporting inBaltimore Ray StricklandChannel 2 news,THERE'S A NEW RELIEF BIL