Stanford University has reacted to its shrinking endowment by laying off 412 people and eliminating the positions.
The university, which spent $1 billion of its endowment this year, also plans to get rid of 60 more people by the end of the year, said Diane Peck, the school’s vice president of human resources.
Source: Sacramento Business Journal
According to accreditedonlinecolleges.org, there are 10 Big Ways the Recession is Hitting Higher Education:
Read full article at accreditedonlinecolleges.org
Harvard University announced 275 job cuts on Tuesday, the latest cost-cutting measure at the world’s richest university after the financial crisis triggered big losses in its multibillion-dollar endowment.
Source: Reuters
Washington State University plans to cut 371 jobs and eliminate several academic programs to make up a $54 million deficit in its budget for the next two years.
Major cuts are proposed for the school’s core agriculture research and extension programs, plus engineering, liberal arts and sciences.
Source: Seattle Post-Intelligencer
Even though the economy has taken a nose dive and job hunters are out in force, researchers say that by 2025 California will be starved for college-educated workers to fill available jobs.
In fact, the state will need about a million more college-educated workers than it’s expected to have - a shortage that will lead to a lower standard of living in California and more people needing social services, according to a new report by the Public Policy Institute of California.
The report predicts that 41 percent of workers will need a college diploma (4 in 10 jobs will require one), but only 35 percent of working-age adults will have the necessary degree.
Source: San Francisco Chronicle
The University of Washington will eliminate about 1,000 employee positions — including a yet-to-be-determined number of layoffs — by the beginning of May, the school’s president said Tuesday.
The latest estimate is up from the 600 to 800 job cuts UW officials warned about in February, after Gov. Chris Gregoire released her own budget proposal.
~News submitted by P.S.
Source: Seattle PI
According to The Santa Clara: “In March of this year, thousands of educators throughout California received an infamous pink slip, a notification of their potential layoff before the end of the year.
It is estimated that over 20,000 teachers have received this pink slip, leaving their jobs and their futures in great uncertainty.”
~News submitted by upthecreek
More than 550 Boston school department employees could be out of a job and 212 of those employees are teachers.
WBZ has learned that Boston Superintendent Carol Johnson is scheduled to submit a budget to the school committee on Wednesday and that budget will call for lay-offs. Notices will then go out between Wednesday and May 1st.
Source: WBZ
California teachers are set to hold protests in more than a dozen cities today as about 26,000 may lose their jobs because of spending cuts the Legislature approved last month to keep the state from running out of money.
School districts across the most-populous U.S. state have been warning thousands of teachers that they may be fired as a result of California’s declining tax collections.
Not all teachers receiving notices will lose their jobs. Last year, about half were ultimately let go, according to the teachers union.
Source: Bloomberg
According to Reuters, CNBC: “Harvard University, the world’s richest, said on Wednesday that it will hold salaries flat for the next academic year, let staff retire early and slow construction of a new campus in Allston to save money. Harvard President Drew Faust wrote to students, faculty and staff on Wednesday, saying that the economic downturn will require “taking some difficult steps.” ”
~News submitted by upthecreek
Caltech announced Friday that it will lay off 100 employees due to economic concerns stemming from its endowment and alumni contributions. The university will also freeze hiring for some unfilled positions, though it will continue to hire faculty, albeit at a reduced rate.
Source: Pasadena Star-News
Thousands of New York City teachers may be forced to learn a harsh lesson in economics, if the state and city decide to follow through with proposed education budget cuts.
Chancellor Joel Klein told state lawmakers that some 15,000 jobs may be lost if proposed cuts — $700 million in state aid and a $500 million in city funding — slash the education budget.
Source: 1010 WINS
Long Beach Press-Telegram reports:
Los Angeles Unified School District officials said Monday they could soon send nearly 3,000 nonpermanent teachers notices warning of imminent layoffs.
While it has become standard policy in recent years for the district to send layoff notices as a precautionary measure, teachers union officials and administrators fear this is the first time since widespread layoffs of the mid-1990s that teachers could actually lose their jobs.
According to AP and San Jose Mercury News: “Senior administrators at Stanford University, including the president and provost, are taking a salary cut, as the nation’s economic decline places pressure on the university’s budget.
Provost John Etchemendy informed staff members about the salary reductions in a letter Tuesday, saying he and President John Hennessy have volunteered to reduce their salaries by 10 percent.
University spokeswoman Lisa Lapin said the salary cuts affect about 15 to 20 positions with salaries that start around $250,000. She said Hennessy makes around $700,000.”
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