To close its $150 million budget gap, Yale University will be cutting staff, freezing salaries, and limiting the number of graduate students, reports the New York Times. A memo from Yale’s president and its provost, Richard Levin and Peter Salovey, said these steps were needed because the school's endowment dropped from $22.9 billion in June 2008 to $16.3 billion in June 2009. The Times adds that the memo did not say how many positions would be cut, though the reduction in gradates students will be between 10 and 15 percent. Also, Yale will be turning its heat down, setting thermostats to 68 degrees.
It's Going to Get Nippy
Feb 06, 2010