Western Kentucky University is offering early retirement to its senior employees.
According to an email Tuesday from Provost and Vice President of Academic Affairs Bud Fischer and Vice President of Strategy, Operations, and Finance Susan Howarth, the Voluntary Separation Incentive Program is designed to help employees pursue other professional opportunities while providing financial flexibility to the university.
University spokesman Jace Lux said in a follow-up email that it’s too soon to estimate the cost-savings to WKU without knowing how many employees will apply. An estimated 388 employees meet the eligibility requirements for the program.
Those who accept the offer will be given a lump sum payment equivalent to a year’s salary, as well as a stipend toward purchasing health insurance.
WKU made a similar offer to employees in 2021 during the pandemic and 125 employees took advantage of the buyout.
Applications for this latest offer will be taken through Oct. 18. Staff employees who participate will leave the university on Nov. 30. The last day of employment for faculty members will be Dec. 31.
