Be sure to scroll down to the earlier post to read about the university press release on last week's Academic Council meeting that was posted, then doctored. FC gives you the original words that Duke PR tried to hide.
Now... on the two year old wage freeze. Here is the text of Brodhead's e-mail to employees. Fact Checker analysis to be posted Tuesday.
Durham, NC -- Dear Colleagues,
I write to give a brief update on the financial state of the University.
As you know, the economic downturn of 2008-09 significantly reduced our endowment income and brought us a period of profound uncertainty. Since that time, with cooperation from the whole Duke community, we have achieved sizeable reductions and identified efficiencies that will save money for many years to come. Coupled with reviving financial markets, these changes have put the university's budget back on a sustainable footing.
Many of our revenue sources remain uncertain, so we need to maintain the self-discipline of the past two years. But it's time to return to a more normal approach to recognizing the good work of Duke employees. I am happy to announce that we will resume merit-based pay increases this year. The details of the merit increase program, which will be tied to performance reviews, will be communicated to individuals later this spring and will be effective July 1.
It is appropriate that the whole Duke community should benefit from our improving financial circumstances, since you helped to create the improvement. In the face of financial challenges, Duke's workforce took on a shared sacrifice. As you know, the suspension of the annual pay raise for the last two years protected hundreds of jobs at Duke, and prevented the widespread layoffs suffered elsewhere. You approached our financial crisis with energy and creativity, ensuring that Duke's essential values were never compromised.
I am proud of the fact that in the face of hardships, we never lost our focus on our core mission. I want to convey my profound thanks for your help in getting us through a difficult time.
Sincerely,
Richard H. Brodhead
President, Duke University
