Little Rock, Arkansas – The University of Arkansas for Medical Sciences (UAMS) has confirmed its decision to implement job layoffs following a financial deficit recorded for the recently concluded fiscal year.
On July 10, the institution publicized a net loss of $30 million for the fiscal year ending June 30. Amanda George, UAMS’s Vice Chancellor for Finance and Administration, and Chief Financial Officer detailed in a video statement that the organization faced a $50 million operational loss. However, investment revenues ameliorated this to the mentioned $30 million loss.
“The predominant challenge has been our expenses,” remarked George. “Factors such as rising labor and supply costs, inflation, and the implications of Covid have cumulatively strained our financial position.”
Speaking on the broader economic context, UAMS spokesperson Kaitlin Barger emphasized in a recent statement, “UAMS has felt the brunt of inflation for some time now. Being Arkansas’s sole academic medical center, we are deeply committed to the state’s residents. Hence, it becomes imperative for us to seek strategies that enhance efficiency, ensuring that core programs and the consistency of our services remain unaffected.”
Furthermore, Barger revealed the institution’s plans to leave certain vacancies unfilled and to reposition certain roles, inevitably resulting in layoffs. “This has necessitated the termination of 51 current roles,” Barger expressed with gravity. “We hold every member of the UAMS fraternity in high regard, making such decisions extremely difficult.”
To assist those impacted, the UAMS Human Resources department is actively involved in facilitating alternate employment opportunities, either within UAMS or in other establishments.
As indicated on the UAMS website, it stands as Arkansas’s exclusive health sciences university. Moreover, it is the predominant public-sector employer in the state, boasting a workforce of over 10,000 spread across 73 of Arkansas’s 75 counties.
