Layoffs Expected at Stanford Due to Millions in Budget Cuts
“The cuts also come amid a turbulent year in which Stanford fell under federal scrutiny in relation to the Supreme Court’s ban on race-based admissions”
Does this mean that there won’t be as many campus speakers for the students to shout down? What a shame.
The San Francisco Gate reports:
Layoffs looming at Stanford amid upcoming $140 million in budget cuts
In a letter to faculty and staff, Stanford University announced $140 million in budget cuts for the upcoming 2025-26 academic year, which it said will require staff layoffs.
“This is difficult news to share,” university President Jon Levin and Provost Jenny Martinez wrote in their letter on Thursday. “… We face significant budget consequences from federal policy changes.”
President Donald Trump’s “One Big, Beautiful Bill,” passed by the House on May 22, proposes a 21% tax on some universities’ endowments, which would apply to Stanford, and would be an increase from Stanford’s current rate of 1.4%, according to student newspaper the Stanford Daily. If it becomes law, the change could represent an estimated $750 million tax annually, a significant hit to the university’s operating budget, according to the publication.
At $37.6 billion in August 2024, Stanford has one of the largest university endowments in the U.S. The university spent $1.8 billion from the endowment during the fiscal year, according to its website, funding items like financial aid, faculty salaries, research, libraries and athletics.
According to the letter, the budget cuts will require reductions to staff positions, “not all of which can be accomplished by eliminating open positions.” The $140 million figure excludes the School of Medicine, which will decide about cuts separately, Levin and Martinez said in the letter.
The cuts also come amid a turbulent year in which Stanford fell under federal scrutiny in relation to the Supreme Court’s ban on race-based admissions, along with UC Berkeley, UCLA and UC Irvine. Stanford also announced a hiring freeze in February, citing “potential financial uncertainties.”
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Comments
That’s from the Big Beautiful Bill? Then I still want it even though the Senate parliamentarian hacked a lot of good stuff out of it, and it was bloated to begin with.
I still want it and am glad a version passed the Senate last night. I wasn’t sure, but now I still want it because of this.
Wonderful. Here are just two suggests of where to cut:
1) DEI positions. Useless.
2) Victim Studies. Gut them.
You’re welcome.
thats what happens when you get hooked on tax money
not to worry the money will be coming back in no time