University of Miami Lay Off 800 Employees
By: Leon Castles
on Wednesday, May 09, 2012
Except for the transportation and real estate sector nothing is going right for Miami and therefore many people are now worried about their jobs and employment in Miami. There are many business owners that feel that they need to cater people that have been in transportation and real estate sector. Now, University of Miami has announced that they will be letting go more than 800 employees from its Leonard M Miller School of Medicine. The University of Miami has already made an announcement much before they made it public.
The university also said that they have already sent notices to the Workers Adjustment and Retraining Notification that they will be laying off more than 800 employees at UM from July 31. The notice said that these layoffs are on permanent basis and therefore they will not be able to retain the staff in the future. It was also announced that the employees will be notified about it from Tuesday. The University of Miami said that they have been going through various financial problems and currently the university has more than 13,000 employees. UM also said that they have reduced the annual payments to all the physicians in the UM by about $16 million. Although, the UM has better earnings throughout the year they are unable to handle the finances which is forcing them to take the necessary action.