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The daily Princetonian reported yesterday that an email was sent by President Shirley Tilghmann alerting the campus to expect personnel cuts this fall. There was an early retirement program but she wasn't sure that program would get the needed savings. Princeton lost 22.7 pct in their endowment and their endowment covers 48 pct of their expenses.
It may take a sledge hammer but higher education is slowly getting it.
For those of you that don't live in my home state of New Jersey you can get the Princetonian online. Also look at the comments from some Princeton alums...staff and students. It's all the same all over!!! Is anyone listening, it appears around the country they are starting to.
carney2
If they only had a Diversity Dean none of this would be necessary.
Pards Rule
Why is this such a shocker to people? I mean, really, there seems to be a societal belief that academics and governmental entities (schools!) are exempt from economic reality. Not to sound callous but a lot of folks have been laid off or had wages frozen and/or benefits trimmed and there is a great hue & cry from the aforementioned quarters concerning their travails. But I ask: why are they exempt? And I never get an answer! I do get a discussion that they are lower paid and therefore get a free pass during all downturns. My response: complete and utter BS. I was on an MUA board of Directors in a typical NJ suburb for 10 years and I saw the salaries and benefits of these folks - certainly not below par. And I read in the papers salaries and benefits of various public employees and compare them to my former Fortune 500 company for similar positions - they are actually better. And they get guaranteed pensions. So, in these trying times, why should we be shocked and dismayed at these layoffs and cutbacks any more than we should at what is transpiring in the private sector?
