Tennessee Regents Approve Voluntary Buyout Plan for U. of Memphis

The Tennessee Board of Regents has approved a voluntary buyout plan for 115 positions at the University of Memphis that officials say will save the institution $1.5-million, the Memphis Commercial Appeal reported.

The plan, which the regents unanimously approved on Friday, is part of the university’s efforts to offset nearly $7-million in budget cuts. It calls for eliminating 40 faculty positions, 50 staff positions, and 25 administrator positions, the newspaper reported.

Memphis is the sole institution among the 44 governed by the regents to adopt such an approach. Bob Adams, the regents’ vice chancellor for business affairs, told the newspaper the other institutions were taking a “wait and see” approach before weighing similar actions. —Libby Sander