Harvard to cut 275 jobs, cites dropping endowment
Source: Washington Post Posted By: Handson 5414 days ago
Harvard University is cutting 275 staff jobs as fallout continues from the school's dropping endowment.
The layoffs amount to less than 2 percent of Harvard's 16,000 staff and faculty. The school also is reducing hours for 40 staffers. The cuts don't apply to faculty.
The cuts were announced in an e-mail Tuesday to faculty and staff from President Drew Faust and human resources Vice President Marilyn Hausammann.
Harvard's endowment fell 22 percent at the end of 2008 to $28.7 billion,....