Interim President Beong-Soo Kim wrote that the strategies to reduce USC’s operating costs and address the structural deficit are “working” and have protected USC’s academic mission and student experience in a memo released Wednesday. At the time of publication, USC has confirmed its $200 million operating deficit on July 14 and has laid off 342 employees in total.

The memo also announced a new Artificial Intelligence Strategy Committee and a Faculty Advisory Committee coming to USC. The committees will be dedicated to advancing academic excellence and diversified research funding. The press release also announced that USC will create a new Student Success Working Group tasked with increasing graduation rates and post-graduation employment.

“While these actions are necessary to ensure our university’s future, the resulting layoffs are difficult and disheartening in so many ways,” Kim wrote. “To each and every impacted member of our Trojan Family, I want to extend my deepest compassion and gratitude for your service to USC. [sic]”

According to the memo, Kim selected Geoffrey Garrett, dean of the Marshall School of Business, to lead the new AI Strategy Committee. The committee will coordinate and focus on the AI research from over three dozen institutions at USC and will create guidelines for AI use in the classroom. 

“[The committee] will develop recommendations around what we teach, how we teach it, and to whom, as AI transforms learning and work,” Kim wrote. “This committee will build on new teaching resources on AI being offered by the Center for Excellence in Teaching, and engage the broader university community — including students — throughout the coming year.”

Kim wrote that he spoke to over 5,000 USC community members regarding USC’s financial challenges and that USC’s financial resilience suggestion box had received hundreds of submissions. Kim also wrote that students will be able to continue engaging directly with University leadership through the new Faculty Advisory Committee.

“[USC wants] to understand that the university is moving in the right direction, based on a shared set of values, and has a clear plan for turning our current challenges into opportunities,” Kim wrote. “The university’s leadership — including the Board of Trustees, deans, and senior leaders — is completely aligned and determined to carry out precisely such a plan this year.” 

Additional information on new committees and priorities can be found on the president’s website. Kim also wrote that a more detailed report on University finances would be available in the near future. 

“I could not be more excited about what we will accomplish together in the year ahead,” Kim’s statement read. “Thank you for your deep commitment to USC and our mission of advancing knowledge and transforming lives.”