Word: costs
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Through the latest staff reductions and other cost-cutting initiatives, HBS has trimmed roughly $40 million from its budget, according to HBS spokesman Brian C. Kenny. In their letter, Light and Crispi expressed hopes that no further layoffs would be necessary, but noted that new hiring would be closely monitored...
...late April interview, Light said that the School began to respond to the crisis in March 2008 by cutting expenses and postponing several capital projects. But in the recent letter, he and Crispi wrote that it was not enough. Other cost-cutting measures that staff had suggested to avoid layoffs, such as furloughs and pay reductions, would also be too little, they said...
...Furthermore, he said, when SEIU organizers meet with human resource and academic administrators, Harvard officials are uninformed and fail to communicate openly about their specific cost-cutting needs and goals. He said that the union routinely asks Harvard how many staff will be cut and how the University plans to accomplish the same workload with fewer staff, but each time the response has been unclear and unsatisfactory...
...president of Acme Pioneer, declined to comment on the discussions with Harvard. But he emphasized that Acme is a service company dedicated to meeting its customers' needs, and he noted that beyond ensuring that the cuts are made according to seniority, the Union has little real say in the cost-cutting process...
...result of these cost-cutting measures and the recent layoffs, "we believe our long-term budget is now sound," Ellwood wrote. He added that "barring any unexpected developments" and excluding normal staff attrition, he does not anticipate the need for further School-wide layoffs...