Word: fas
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...During the question-and-answer portion of the meeting, multiple audience members expressed concern about the possibility of staff layoffs. Though Smith did not explicitly presage job cuts, he said some FAS jobs may no longer be necessary, as he cited the “huge” deficit on the projector screen...
...Next year’s projected deficit of $130 million has been compounded by last month’s announcement that endowment funding for Harvard schools—which contributed 56 percent of the FAS budget this year—will fall 8 percent for the next two years, raising the two-year deficit even higher...
...response, FAS administrators have begun planning around a 12 percent decrease for the fiscal year ending in 2011 in case endowment funding plummets further, according to Smith...
...might imagine, this is a huge change—a painful change,” the FAS dean said...
...FAS has already achieved $4 million of savings in the past six months, and proposals for 15 percent cuts submitted by departments and units would produce a $73 million reduction if approved for the next academic year. But the cuts would eliminate only one third of the overall deficit facing FAS...