UC to consolidate payroll systems in Riverside, saving money

As part of an effort to reduce costs and become more efficient, the University of California system announced Thursday that it will consolidate much of its payroll and benefits functions in an office near UC Riverside over the next few years.

The new center will start with about 150 employees in July 2013 and may grow to as many as 500 or so, boosting the local economy, officials said. Some of the workers will be transferring from other UC campuses and some will be new hires, while savings will be achieved partly through attrition and some possible layoffs in the massive UC system. UC Riverside administrators said negotiations are underway with property owners for a location.

UC leaders estimate that the consolidation will pay for itself in a few years and can generate as much as about $100 million a year in cost savings starting in the eighth year. The system is under pressure to reduce costs as state funding has been cut.

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-- Larry Gordon