University Finances
Reporting on Harvard’s budget, endowment, and financial strategy.
Harvard Layoffs Continue, with More to Come
In the wake of federal government actions, several Harvard schools and institutes are cutting costs.
by Jonathan Shaw
Harvard Layoffs Update, and More "Reshaping" to Come
School-specific news on layoffs; FAS cost-cutting working groups; and the endowment's forward commitments
Layoffs Begin
The University has begun laying off employees, part of its efforts to reduce costs to cope with the projected 30 percent decline in the value of the endowment.
The Early Retirees
The University has disclosed information on the staff members, by school, who were offered and who accepted its voluntary early-retirement incentive program.
EVP Forst to Leave Harvard
Updated May 28. Executive Vice President Ed Forst, who joined Harvard last fall and helped shape the University's financial strategy, is returning to New York.
Faculty of Arts and Sciences Details Initial Budget Cuts
The Faculty of Arts and Sciences gave some details of initial efficiency measures—one-third of the savings it must effect.
FAS Dean Details $220-Million Budget Gap; Working Groups to Address "Reshaping" Academic Activities
At a "town hall" meeting for Faculty of Arts and Sciences professors, staff members, and students, Dean Michael Smith outlined daunting financial...
"A New Economic Reality"
The University’s financial gap measures in the hundreds of millions of dollars.
Financial Update: Harvard Retains Triple-A Rating, Princeton Foresees Deeper Cuts
In affirming Harvard's credit rating, Moody's detailed recent and current financial challenges; Princeton, in the meantime, adopted a more pessimistic outlook on its finances and reined in its budgets further.
Endowment Distribution to Be Reduced 8 Percent; Budget Cuts Loom
Distributions from the endowment will be reduced 8 percent in each of the next two fiscal years; that action sets the stage for significant budget cuts.
Stanford Imposes Deeper Cuts, Too
Updated. Citing the deepening economic and financial crises, Stanford has decided to make deeper expense cuts in the next fiscal year; Yale recently imposed deeper cuts, too.