Stanford Studies Cutbacks During Tough Times

Construction projects and payroll will be tightened first.

By San Jose Mercury News
|  Monday, Nov 3, 2008  |  Updated 1:55 PM PDT
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Stanford Studies Cutbacks During Tough Times

AP

University considers belt-tightening during economic downturn.

Stanford University is planning to postpone some construction projects and control salaries over the next two years to reduce expenses amid the deepening economic slump.

  In an e-mail sent Thursday to staff and faculty, President John Hennessy said none of the cutbacks will affect the school's core educational functions.

 He says the university will protect faculty positions and expand financial aid.

 Officials say Stanford doesn't plan across-the-board layoffs or salary freezes, but pay increases will be smaller than in previous years and some jobs may be cut.
 
 Hennessy says a steep decline in investment income, reduced research funding and a rise in needy students has created "perhaps the tightest financial outlook we have seen in decades."

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