Loyola University Offers Third Buyouts in Three Years as It Grapples with Budget Woes

In yet another attempt to cut costs as it deals with a budget crisis, Loyola University is offering buyouts to certain employees — the Uptown institution’s third such offer in three years. The latest buyout offer, which the university’s board of trustees approved in May, allows eligible faculty and staff members to retire from Loyola on either Aug. 19 or Jan. 3 in exchange for a severance package.