Word: cutting
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Sweet, a former cryptographic researcher, has brought sharp insight to Harvard's finances for not only top Faculty deans but also the departments and centers that must translate the deluge of figures into real-life budget cuts, Smith said. After Smith delivered a mandate to departments to cut their budgets by 15 percent in December, Sweet became the go-to man who could bring reality to the numbers...
...cuts amount to a 2.5 percent reduction in the School's staff workforce, according to FAS spokesman Steve Bradt, who also said that no faculty were affected by the downsizing. He declined to state where the layoffs occurred, saying only that they were spread throughout FAS. But Harvard College Library, a unit of FAS, was the source of roughly 20 of those 77 layoffs, according to an announcement last week that also said the libraries had cut hours for several others employees...
...Harvard Union for Clerical and Technical Workers, said that roughly 30 staff from FAS in his union had been laid off, mostly in "ones and twos" from 13 different departments and offices across FAS. Some of the eliminated jobs corresponded to services that administrators previously announced would be cut, Jaeger said. But he also noted that his tally's methodology and his definition of a "layoff" may differ from the School's, since the union's count does not include workers who volunteered to be laid off, nor those who were offered alternative jobs at the same time that their...
...past, federal-loan repayment was structured so that a graduate would have to pay a certain amount of money each month, regardless of his or her income at the time. Under the IBR program, if you lose your job or are forced to take a pay cut, the amount you have to pay back per month will drop. If, however, your salary subsequently increases, your payments will still be capped at 15% of your disposable income. That is, of course, if you are eligible to participate in the program; grads with private loans are exempted as well as those...
...University of California, Sokhoeun needs every penny of financial aid she can find. And that aid is almost certain to be cut in the coming round of budget slashing. The Cal Grant program is on the chopping block as Gov. Schwarzenegger proposes the elimination of grants for incoming freshman and the gradual phasing out of the program. Now Sokhoeun and thousands of outstanding students - the human capital for California's future economic growth - stand to see their dreams dashed...