This university is getting ahead of the college transition curve to cutting staff and going online to the degree possible. Coming to a university near you. Those who fail to make these types of moves are destined for the scrap pile. If you are an average college professor this pandemic has turned you into a blacksmith after the model-T was invented.
Yes, cut the money going to the top.
If this pandemic does anything, cleaning out academia might be the best thing to come out of it.