Vanderbilt University Medical Center faculty and staff won't accrue vacation time for three months or receive pay increases as the program works to cut costs in the face of "unprecedented financial challenges" posed by the federal budget sequestration, employees were told Tuesday. The medical center needs to make up for a $20 million shortfall by June 30, the end of the current fiscal year. More than half of that amount will be saved by prohibiting VUMC's more than 14,000 employees from earning vacation time from April 1 through June 30. Although employees will still be able to use the vacation days already accrued, they won't earn any new time off until July.
