University of California Santa Cruz Faces Budget Deficit, Announces Job Cuts

Support resources will be provided to affected employees, according to the University of California.Photo bySohan ShingadeonUnsplash

The University of California, Santa Cruz, has revealed a larger-than-expected budget deficit, prompting the elimination of some positions. Chancellor Cynthia Larive announced that the university's 2024 fiscal year concluded with revenues of $546 million and expenses totaling $654 million, resulting in a $107 million deficit. Despite planned spending cuts of $17 million, the deficit in core funds is projected to reach $111 million. To address the shortfall, UC Santa Cruz will reduce staff, with some layoffs inevitable despite efforts to manage reductions through attrition and unfilled positions. Support resources will be provided to affected employees, according to the University of California.