Over half of the employees at Averett University are currently experiencing a pay cut. The pay cuts stem from unauthorized withdrawals from the schools endowment.

The problem stems from a former employee however the school says there is no evidence of theft. Averett University currently has 200 employees and over 120 of them are currently experiencing a 20% pay cut. 

According to Cardinal News, many of those employees are also currently working a four day work week. The cuts are an attempt by the school to shed $6 million for the upcoming year. The four day work weeks are currently scheduled to last until August 3.