The Newsroom    Published Wednesday, Jun. 21, 2006, 9:54 AM
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UTMB layoffs looming

KHOU-TV (CBS) Ch. 11 Houston TX (Internet / TV) 06/20/06 http://www.khou.com/business/stories/khou060620_mh_utmblayoffs.a6070ce3.html Layoffs are looming at Galveston's largest employer. 11 News has learned the University of Texas Medical Branch will cut up to 1300 pink slips beginning next month. Only about 15 percent of the cut will come through attrition, which means about 850 people will be getting pink slips, UTMB President Dr. John Stobo said. The reduction of almost 10 percent is part of an attempt to stem operating losses of about $20 million a year and help the university build a reserve fund. The university employs about 13,000 people who reside all over the region. The university had contracted with the Chicago firm Navigant Consulting to analyze what the institution and its workers do and recommend improvements and efficiencies. In a letter to employees, Dr. Stobo said the layoffs are necessary to cut costs and boost revenue.



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