Webster University’s total number of employees decreased by 13.4 percent in the 2015-2016 fiscal year (FY) from the previous year, according to the 990 tax documents.
The total number of people employed by the university worldwide decreased by 695 over the year. The document does not specify what percentage of these employees retired, left voluntarily or were dismissed.
The total number of employees reported in the new tax form is 4,487. The previous year’s document reported 5,182. This number is a departure from recent years for Webster. The number has fluctuated but remained between 5,000 and 5,200 employees since 2013.
The number for the most recent year is also the lowest since Webster began reporting its number of employees in 2008. T
he financial impact of this decrease can be seen in the tax form’s Statement of Functional Expenses Section. The university is now spending significantly less on salaries and wages for non-administration employees, pension plans, payroll taxes and other employee benefits. This represents a spending decrease of approximately $6.5 million from the previous year. Webster faculty and staff members received no raises during the 2015-2016 FY.
As The Journal has previously reported, a new retirement incentive plan may lead to a further decrease in the number of employees in the near future.
According to the 990, the university lost approximately $12 million in total assets during the 2015-2016 FY. This marks Webster’s seventh consecutive year of budget shortfalls.