From the Yale Daily News: Yale College staffing will decrease by roughly 7.5 percent in response to the Trump administration’s endowment tax hike, according to Yale College Dean Pericles Lewis. Aside from financial aid programming, the “biggest expense” for the College is the payment of staff salaries, Lewis said in an interview last week. The Yale College operating budget, which totals approximately $80 million this academic year, is separate from the $275 million annual financial aid budget that Lewis’ office also oversees.
...According to the Office of the Provost’s website, the increased federal endowment tax will result in a 12.5 percent decrease in the University’s ability to spend from its roughly $44 billion endowment. Lewis said last week that this reduction will result in a 7.5 percent cut to the Yale College budget, adding that the “only way” to meet this reduction was to employ fewer staff...
Full story at https://yaledailynews.com/articles/yale-college-staff-to-shrink-by-7-5-percent-amid-budget-cuts-dean-says.
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