Stanford, California-based Stanford University, a prestigious private research university, has announced a mass reduction in its workforce based on rising costs and changes in federal funding policies, including a steep revision to the endowment tax.
The reduction will impact 363 employees across various departments, including administrative services, research, facilities, communications, libraries, marketing, and student services.
Management's memo...
Dear faculty and staff,
As we wrote last month, the university is making a $140 million reduction in the general funds budget for the upcoming year. This is the product of a challenging fiscal environment shaped in large part by federal policy changes affecting higher education.
Over the last few days, many schools and units at Stanford have made staff reductions. The university is providing support resources as well as layoff benefits to eligible employees. Nonetheless, these are difficult actions that affect valued colleagues and friends who have made important contributions to Stanford.
We also know that many of you will need to make adjustments going forward as a result of budget cuts. Thank you for your hard work, for your support of your colleagues, and for all of your efforts to support our vital ongoing mission of research and education.
Sincerely,
Jon Levin, President
Jenny Martinez, Provost
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?