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Purdue University officials say an early-retirement incentive being offered to more than 1,600 workers is aimed at minimizing
the need for layoffs while the school makes spending cuts.
Purdue's Board of Trustees approved the plan Monday during a meeting at the IUPUI campus. The incentive will pay up to
half an employee's annual salary and provide a five-year allowance toward medical expenses.
Officials are expecting up to 500 total professors and staff members who are at least 60 to leave their jobs. Up to $30 million
could be spent on separation pay, but administrators anticipate only two-thirds of those leaving will be replaced.
Purdue vice president Luis Lewin said the early-retirement program will also give the school an opportunity to streamline
and reorganize.
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