Harvard fires 275

The downsizing continues, with much more still to come - Layoffs Begin Harvard Magazine

"When combined with other moves to cut expenses, such as the salary freeze, limits on hiring, slowing the pace of Allston construction and other capital projects, and so on—all driven primarily by the projected 30 percent decline in the value of endowment assets—these staff-workforce reductions will make an impact on the looming budget pressures in several of the schools and allied institutions. But they do not nearly close the biggest gaps, such as the $220-million deficit looming over FAS. As reported here, FAS had identified just $77 million of the expense savings it anticipates needing to make; presumably whatever staff reductions are being announced now within FAS were counted as part of that initial $77 million of cuts, leaving $143 million in costs still to be removed from the core academic budget."

The Harvard Crimson :: News :: Harvard Announces Impending Layoffs

No comments:

Post a Comment