This is the letter that went out to professors and employees at the Cleveland Institute of Music, telling them their pay and jobs are to be cut while the boss Paul Hogle (pic) takes home a big bonus.
In yesterday’s letter to the employees, President Hogle reported on actions required to improve CIM’s budget for this new academic year.
The Board of Trustees has now approved the FY25 budget, which includes a pay reduction for the school’s top leadership,certain staff vacancy freezes, a temporary hiring cool-down, and matching faculty compensation to reduced teaching loads due to lower enrollment. Without diminishing the seriousness or personal impact, these actions affect a handful of colleagues.
Compensation and benefits were the final remaining actions required to address this year‘s operating budget. While there is much work still to be done, the Board and Staff Leadership, alongside the Business Model Taskforce, is working hard in hopes that this solution will only impact this fiscal year.
Regarding employee salaries and wages, the Board has decided that it is not possible this year to offer across-the-board raises. This means our salaries and wage rates for the new academic year remain the same as last year for faculty and staff.
Regarding benefits, after several weeks of discussion about arange of possibilities still needed to achieve budgetary goals, we have also decided to suspend this year‘s CIM contribution/match to full-time employees’ retirement funds. This suspension will be in effect as of September 1.
Freezing compensation and suspending the retirement match were not decisions that the Board and Leadership made lightlyor without regard for their impact on employees; to the contrary, we believed that these choices were the best among a series of potentially even more difficult options.
If you have questions about how this affects you, please feel free to reach out to either of us.
Tammie Belton
Vice President of People and Culture
Brian Foss
Chief Financial Officer
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