Read the full story here Web Link posted Wednesday, August 5, 2020, 9:26 AM
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Stanford announces layoffs, workforce reductions to address budget concerns
Original post made on Aug 5, 2020
Read the full story here Web Link posted Wednesday, August 5, 2020, 9:26 AM
Comments (4)
a resident of Downtown North
on Aug 5, 2020 at 10:53 am
Mark Weiss is a registered user.
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a resident of Portola Valley
on Aug 5, 2020 at 1:50 pm
Alum is a registered user.
With a $27 billion endowment, the obvious question is why doesn't the Stanford board of trustees decide to simply absorb the expected losses as a "once in a lifetime" event?
Those who are among the unfortunate individuals being terminated cannot help but look at the size of the endowment and wonder what message this round of layoffs sends about Stanford's priorities.
a resident of University South
on Aug 5, 2020 at 2:32 pm
chris is a registered user.
The university is substantially increasing the payout from the endowment next year. However, most of the endowment is restricted in its use and cannot be used to support deficits. The university would have to borrow the money and may have to anyway. The downturn will not be short so expenses will have to be reduced sooner or later.
a resident of Embarcadero Oaks/Leland
on Aug 5, 2020 at 2:42 pm
Online Name is a registered user.
Doesn't the university have lawyers and mechanisms to revise how the endowment is administered in extraordinary circumstances?
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