Word: budgeter
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...comment on the cost savings achieved by the cuts, but said that the layoffs announced today represent a "significant step" in aligning Harvard with its current fiscal reality. He added that while administrators "do not have any current plans for additional University-wide reductions," the need for further budget cuts could not be ruled out as Harvard reshapes itself in a volatile global financial environment...
...described in a complementary e-mail as "modest in comparison to the overall size of our University-wide staff, but nonetheless painful"—caps weeks of swirling speculation that Harvard would seek to conduct layoffs shortly after Commencement activities. The downsizing is one of the most prominent budget-cutting measures to date following a semester of fiscal anxiety that has seen the trimming of student services, the curtailing of capital projects, and the implementation of a sweeping early retirement incentive program for staff...
...Jaeger said the discussions have been of mixed success, depending on the location or unit, because of the differing budget situations and managerial personalities. While emphasizing that discussions would continue at several schools and departments, he also said he wished there could have been a "few more weeks" for negotiations at many locations...
With compensation accounting for so high a proportion of our budget, we will enter the 2009-10 academic year with salaries held flat for faculty and exempt staff; we have also offered a voluntary early retirement program in which more than 500 staff members across Harvard have chosen to participate...
Most staff workers had forecasted the news for months, and the unprecedented fiscal slump had left no budget-cutting measure too improbable to consider. But the reality of losing 275 employees in one sweep has nonetheless aroused the bitterness of staff members who learned Tuesday morning of the downsizing to come...