COVID-19 has caused stress throughout the educational world and Laurentian University is taking a pro-active role to find solutions.
Communications Officer Shaun Malley says the university has hired Ernst & Young as external financial advisors to find solutions to their financial woes.
He says the company will review financial budgets, results, and various initiatives to help identify any additional opportunities for improvements or cost savings.
Malley says the need to find solutions for their $7-million structural deficit as well as the additional $5 to $10-million impact of the pandemic.
He adds they continue to partner with community, government and labour partners to find solutions to the institution’s financial challenges.