Stanford University plans to lay off at least 363 employees as part of $140 million budget cuts, influenced by rising costs and reduced federal funding, including an increased endowment tax. Inflation and decreased federal support are cited as primary reasons for these layoffs, which span across various sectors. Other California universities, including the University of California and the University of Southern California, are also implementing layoffs and cost-cutting measures due to similar financial pressures tied to government funding reductions and budgetary shortfalls.
Stanford University will lay off at least 363 employees this fall as part of $140 million in budget cuts due to rising costs and changes in federal funding.
University officials cite inflation and reduced federal support as key reasons behind the cuts, which aim to ensure long-term financial stability.
The University of Southern California also will implement layoffs and cost-cutting measures due to a budget shortfall of over $200 million.
Several universities in the California State University system are also laying off staff this year due to Gov. Gavin Newsom's initial budget proposal.
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