Recession in the Ivy League: Yale will cut 300 employees

[marmar]

from the Yale Daily News:




Yale will fire up to 300 staff

Isaac Arnsdorf and Victor Zapana
Staff Reporter, Staff Reporter

Published Friday, February 27, 2009


New projections on staff attrition indicate that as many as 300 employees could be laid off as Yale copes with the economic downturn, though administrators said today that the University will double severance benefits for those who lose their jobs in the next six months.

The grim economic outlook has forced the University to cut deeper into staff salaries, slating the equivalent of 500 to 600 positions for elimination. But in a letter to Yale managers today, Vice President for Human Resources and Administration Michael Peel said that the typical annual rate of attrition and turnover is only between 300 and 500. Since the gap cannot be closed by simply leaving open positions vacant, the difference will have to be made with some involuntary layoffs, administrators said.

“We’re using the budget reductions to relook the way work is done," Peel said in an interview today. "And as part of that, we are trying to better accommodate people’s needs in instances we can."

For those who are laid off, Peel said in the letter, the University will double their severance benefits - from one week of pay per year of service to two. All of these employees will be guaranteed at least four weeks of pay, Peel said, and no one will get more than 52. ........(more)

The complete piece is at: http://www.yaledailynews.com/articles/view/28012

[Deja Q]

1. If this were 2008, I'd ask if * would tell them to pull themselves up by their bootstraps.