Posted on 03/02/2009 8:58:26 PM PST by TigerLikesRooster
Yale Daily News
Published: Friday, February 27, 2009
Yale will fire up to 300 staff
By Isaac Arnsdorf and Victor Zapana
Staff Reporter, Staff Reporter
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.
(Excerpt) Read more at yaledailynews.com ...
Which 299 employees will be joining the Republican?
No not Yale!
/src
For all the crap pseudo intellectuals they have turned out in the past several decades, they should fire 100 percent of their faculty and burn the campus to the ground. Just say’n.
Just a guess...most of these 300 voted for Big Ears.
[New projections on staff attrition indicate that as many as 300 employees could be laid off as Yale copes with the economic downturn]
The sadness this causes me is truly immeasurable.
HAHAHAHAHAHAHAHAHAHA!!!!
I understand there are some wonderful ditch digging jobs now available. :D:D:D:D:D
G-E-R-O-N-I-M-O!!!!
Will the last 300 conservatives please report to the adminstrative offices please. That is all.
My hedge fund sources tell me Yale has lost $7.65 billion in the past 12 months.
For some reason, I was thinking the Yale endowment was on the order of $12B to $15B prior to the downturn. Do you know the figure?
Also, why the hell would they go with hedge funds? Why not just allocate their money among mutual funds indexed to the stock and bond markets?
No, the Yale endowment was $29.6 b at its peak, and $22.6 b at its last report on June 30th 2008.
Huh. You would think that in tough economic times there would be greater demand than ever for padlocks.
Cut out useless departments like wymon’s studies and black studies. There are tons of politically correct courses that could be eliminated and the profs who teach them fired
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