Harvard freezes salaries, hiring
Harvard University froze faculty salaries and most searches in the Faculty of Arts and Sciences as part of its plan to cut spending by $105 million to $125 million, top deans said in an e-mail message Monday.
These latest cost-cutting measures come one week after Harvard announced that its endowment fell 22 percent, or roughly $8 billion, between July and October. The world’s richest university may have to scale back or delay capital projects and take “a hard look” at hiring and compensation, Harvard President Drew Faust and Executive Vice President Ed Forst said in a joint letter...
