Word: jaegers
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...policy decision that has most influenced the union’s evolving approach towards the possibility of layoffs—“the big enchilada,” Jaeger calls it—was a March announcement that funding from the endowment, Harvard’s multi-billion dollar treasury, would decline by more than 15 percent over the next two years...
...comprises about a third of the union’s membership, the news was particularly bleak—FAS relies on endowment funding for over half of its annual budget, third-most among the University’s 11 schools. “A bad day,” Jaeger calls the date when the payout decision was announced. In fact, it was probably more than that: the first clear signal of how difficult it would be for HUCTW to ensure that its members would escape the financial crisis unscathed...
...would be tragically foolish for the University to continue spending money on the same trajectory. It’s inevitable that Harvard has to change,” Jaeger says. “Is it possible to resolve financial challenges this deep without anybody being laid...
...Jaeger, in all his practicality, seems to lean toward a ‘no.’ Union leaders have begun to schedule meetings with schools and departments that have told them they are considering changes that could result in involuntary layoffs, according to Jaeger. Otherwise, concrete information has been meager...
...Even Jaeger admits that the gross ramifications of the financial decline have alerted the union to the absence of University leadership when it comes to thinking beyond calculations and figures. “The main thing [central administrators] really do is set that number,” Jaeger says. “We wish they were doing more than that to really lead or to advise the schools and departments as to how to cope...