Word: slashed
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Dates: during 1970-1979
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...crisis began late in November when the Illinois board of higher education asked the university to trim its $50 million annual budget by roughly 5%, or about $2.7 million. The slash was made necessary largely by a decline in enrollments, which have dropped from 23,500 in 1970 to 19,300 this fall. Claiming that it had already cut other costs to the bone, the administration ordered department chairmen to lop heads. Less than two weeks after the order, letters went out to 64 faculty members, including 28 with tenure, and 40 administrative staffers, ending their employment as of next...
...work overtime and weekends. Still, there was fear that British unions, which have a reputation for striking at the drop of a hat, might stage a general strike. Said George Evans of the huge Transport and General Workers' Union: "Feelings are at a boiling point. You cannot slash a man's wages by 40% and expect to get away with...
...present to an energy-hungry world. At a meeting in Kuwait, the Arab oil nations unwrapped a surprise package of moves that added up, at least in theory, to the first easing of their 2½-month-old oil offensive. They promised to raise production in January rather than slash it further as originally planned; output has supposedly been running 25% below September levels, but now the cut will be trimmed to 15%. The Arabs publicly maintained a total embargo on shipments to the U.S. and The Netherlands but added hard-pressed Japan and tiny Belgium to their list...
...much the Arabs have reduced oil output is impossible to determine, but the quantity of oil moving in world trade seems greater than could be expected after a genuine 25% slash in Arab output. Some indications...
...Last November the West German government officially predicted that a 25% cut in Arab exports would result in a 15% to 20% slash in the country's oil supplies in December. But new statistics show that crude oil imports are down only about 1.5% below daily levels anticipated before the Arab boycott began...