Word: ellwood
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...budget challenges caused by the decline in the endowment payout have forced us to take this action," Ellwood wrote, noting that a projected 20 percent reduction in the payout over the next two years, combined with other revenue declines, created a $9 million shortfall in the School's budget...
...Ellwood said that the School has frozen salaries for faculty and exempt staff, implemented a "hiring frost," reduced the faculty budget, and trimmed expenses for travel, food, rent, and outside services. But a roughly $2 million "long-term structural gap" remained, he said, forcing the School to cut staff...
...other non-personnel costs, the Kennedy School has also indefinitely postponed many of its capital projects, sought new sources of revenue through donors and research grants, and participated in the University's voluntary early retirement incentive program, Ellwood wrote in his e-mail...
...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...
...While Ellwood wrote that "this is certainly the most heart-wrenching period our close-knit community has faced in many years," similar budgetary turmoil plagued the Kennedy School earlier in the decade and prompted staff reductions then as well...