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ERIC Number: EJ841245
Record Type: Journal
Publication Date: 2009-Apr-24
Pages: 1
Abstractor: ERIC
ISBN: N/A
ISSN: ISSN-0009-5982
Layoffs Introduce a College Town to Uncertainty
Fischer, Karin
Chronicle of Higher Education, v55 n33 pA1 Apr 2009
For the first time in decades, the economic headlines are hitting Hanover residents where they live. In February, Dartmouth College, a member of the Ivy League and the region's second-largest employer, announced it was laying off 60 workers, all in nonfaculty positions, and eliminating another 90 jobs through early retirements and attrition, part of aggressive cost-cutting measures after the college's endowment was thrashed in the stock market. Many public universities and poorer private colleges, of course, are being forced to slice much more deeply than Dartmouth, which will excise $72-million from its budget through 2011. Still, Dartmouth's predicament, and that of other top colleges stung by the stock-market slump, has a certain resonance: How is it that the recession is being felt here, at this wealthy and storied institution? What effect will it have on the ambitions and expectations of a place that, by any measure--the growth of the endowment, the caliber of the faculty and students--was on a clear upward trajectory? After all, wasn't higher education supposed to be recession-proof?
Chronicle of Higher Education. 1255 23rd Street NW Suite 700, Washington, DC 20037. Tel: 800-728-2803; e-mail: circulation@chronicle.com; Web site: http://chronicle.com/
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A