Economic situation worsens for Yale
In an e-mail to the Yale community in February, President Richard C. Levin said the deteriorating economic situation would require budget cuts beyond those he had called for in December. “The mounting evidence suggesting a prolonged recession has caused us to recognize that we need to take a more aggressive approach to budget reductions for the coming fiscal year,” Levin wrote.
Levin called for cuts in all 2009-2010 budgets by an amount equal to 7.5 percent of the salaries and benefits of all non-faculty staff and a 7.5 percent reduction in non-salary expenditures, up from the 5 percent he had called for in December. These measures could save $37 million in next year’s operating budget, Levin said. But, he added, “… if external con-ditions deteriorate significantly, we may be required to take further action next year.”
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