AKRON, Ohio (WJW)– The University of Akron is taking quick action to compensate for millions of dollars in lost revenue during the coronavirus pandemic.
University President Gary L. Miller announced plans to reduce the number of colleges from 11 to five. The new model means resources will be shared among the consolidated colleges.
The president also said he is working with the athletic director to significantly reduce the athletics budget. Further details are expected over the next few weeks.
“Your university is undertaking one of the most important tasks in its history. We are applying all of our skills and our creativity to guide this great university through a terrific storm,” Miller said in a video on Monday.
He said the plans must be presented in the 2021 fiscal year budget, which will be delivered to the board of trustees in June.
Miller said the estimated financial loss is between $65 million and $70 million.