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Queen’s University has introduced a new initiative called the Voluntary Exit Incentive (VEI) pilot program, aimed at achieving a balanced budget. This program is designed to help eligible faculty members leave their position in exchange for a lump sum payment equivalent to four weeks of regular salary per completed year of service, up to a maximum of 52 weeks for longer-serving employees.

Eligible staff must apply by April 30, 2024 and receive notification of their approval status by May 10, 2024. More information on the incentive and eligibility criteria can be found on the newly established VEI pilot program website. This program is just one of several measures that Queen’s University has implemented to achieve a balanced operating budget.

The focus on cost reductions within the university is most urgent in the Faculty of Arts and Science (FAS), which is why the VEI pilot program is only available to staff within that faculty. If the program proves successful in generating cost savings while minimizing negative effects on employees, the university may decide to expand it to other areas if needed.

It is important to note that this VEI pilot program for FAS staff is separate from the Voluntary Retirement Plan (VRP) announced earlier, which is open to eligible faculty, librarians, and archivists university-wide. For more information, including frequently asked questions, visit the Voluntary Exit Incentive (VEI) pilot program website.

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