The university whose researchers have been at the forefront of the coronavirus pandemic are themselves likely to be victims of the crisis — facing salary cuts and layoffs.
In a letter posted online, Johns Hopkins University president Ronald Daniels said that the private research university in Baltimore expects to lose more than $100 million by the end of June and as much as $375 million during the coming fiscal year.
Before the outbreak, the university had projected a positive margin of $72 million this fiscal year on overall budget of $6.5 billion.
"Ever since we decided to end our on-campus instruction for undergraduates, graduate, and professional students; to suspend the lion's share of our lab-based research program; and to halt elective medical procedures, the university has suffered a dramatic and unprecedented contraction," Daniels wrote.
"More than 1,200 employees have been rendered idle because they are unable to perform their duties,” he added. “Many more are working off-site but at significantly reduced levels of productivity."
According to WBAL-TV, the university is the largest private employer in Maryland and has over 47,000 employees.
"More than 1,200 employees have been rendered idle because they are unable to perform their duties. Many more are working off-site but at significantly reduced levels of productivity," Daniels wrote.
Since the campus has been closed, the university has also seen tuition losses.
"Ever since we decided to end our on-campus instruction for undergraduates, graduate, and professional students; to suspend the lion's share of our lab-based research program, and to halt elective medical procedures, the university has suffered a dramatic and unprecedented contraction," Daniels wrote.
The university is not only involved in virus research but also keeps count of reported worldwide deaths and COVID-19 infections.
A university spokeswoman Jill Rosen, told Business Insider “there will be no effect on our pandemic efforts.”
The Associated Press contributed to this report.
© 2024 Newsmax. All rights reserved.