Be Bold, Use Endowment!
A joint statement from UMHOA, UMPNC, and UPAMM.
BY THE UM PROFESSIONAL NURSES' COUNCIL,
THE UM HOUSE OFFICERS' ASSOCIATION, AND
UNITED PHYSICIAN ASSISTANTS OF MICHIGAN MEDICINE
ON ANNOUNCED CUTS TO HEALTHCARE EMPLOYEE JOBS AND COMPENSATION
As unions representing health care workers at Michigan Medicine, we call on Michigan Medicine leadership and the University Administration to reverse the recently announced cuts to the compensation and benefits of non-union employees—as well as the announced cuts to union and non-union jobs. Now is not the time to be punishing healthcare workers who have made a commitment to serving the public good during the COVID-19 pandemic.
We urge the University Administration to make a bold decision and use money from the UM endowment to cover losses incurred by the pandemic. We know that endowments are not ordinarily used to cover operating expenses such as salaries and benefits, but we are not living in ordinary times. During a global pandemic, UM should be willing to make this decision instead of cutting the compensation and jobs of hard-working health care workers. Enough liquid funds exist in the endowment for this purpose and the action is warranted by the global crisis. It is wrong to maintain investments for the institution's future projects while cutting the retirement contributions of employees—their investments for their futures; now is the time to reward the work, commitment, and courage that healthcare workers have shown and will continue to show every day.