Texas A&M To Save $92 Million By Privatizing

COLLEGE STATION (February 28, 2013)--Texas A&M University says it will save $92 million by privatizing nearly 1,000 jobs at its campuses statewide.

About 920 public-sector employees responsible for landscaping, building maintenance and custodial services will be shifted into the private sector to work for a subsidiary of Compass Group North America, based in Charlotte, N.C.

University officials said the savings will be realized over 12 years and that presidents of each campus will decide how to allocate those savings.

They contend operational costs will be curtailed along with future contract and other expenses.

They say all employees moving into the private sector were guaranteed their jobs.

Many workers will transition to the Compass Group by April 1 while the others will in the coming months.