UTE: layoffs generate savings of USD 10.8 million

The largest investment category of the Universidad Tecnologica Equinoccial (UTE) was the payment of its payroll.

Last year it spent about 80% of its overall budget in salaries. Therefore, according to the director of the study center, Ricardo Hidalgo Ottolenghi, adjustments had to be made in that area.

With 308 layoffs that became known Wednesday -195 professors and 113 administrative personnel- the University projects a savings plan for 2016 of USD 10.8 million.

Source: http://www.elcomercio.com/actualidad/ute-ahorro-despidos-docentes-empleados.html