Harvard freezes top salaries
Harvard University will slow major capital expansion projects, freeze top administrators’ salaries and raise the cost of tuition in response to massive losses in the university’s endowment, Harvard President Drew Faust announced in a letter to all students and faculty members on Wednesday.
“We are living through much more than a bump in the road,” Faust wrote, adding that radical changes in the economic landscape will force the Harvard community to commit to significant adjustments. “Our challenge is to confront the new economic realities and intelligently adapt ourselves to...
