Word: hbs
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Dates: during 2000-2009
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...letter to faculty and staff on June 23, HBS Dean Jay O. Light and Associate Dean for Administration Angela Q. Crispi said it was a "difficult day" for the School but that there was no alternative...
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...
...move separate from last week's staff cuts, Harvard Business Publishing has laid off 20 of its 250 employees as well, Kenny said. The School's publishing arm—which prints books, a business journal, and case studies used in HBS classes—has been hit hard by the recession, he said, along with the rest of the industry...
...HBS also drew more heavily from the endowment in fiscal year 2009 than in the past. Its endowment payout, which was $94 million in fiscal year 2008, increased to $115 million in fiscal year 2009, which ended Tuesday...
...addition to the layoffs, 42 out of 103 eligible HBS employees took early retirement incentive packages from the University this past spring—a participation rate of over 40 percent, the highest out of all the University's schools. The letter also noted that roughly 50 temporary and contract workers, mainly in operations and facilities, will not have their contracts renewed for fiscal year 2010—which begins today—and others will leave the school through "normal attrition...