Briefly: Top Stanford administrators volunteer for pay cuts

Stanford University’s president, provost, school deans and other senior administrators volunteered to cut their salaries by 10 percent as the university tries to reduce its general spending by 15 percent over the next two years, Stanford Provost John Etchemendy said in a letter to faculty and staff Monday. The 2009-’10 budget leaves room for other salaries to increase modestly, but Etchemendy encouraged administrators to consider freezing other salaries in their departments. Some hiring freezes have already been implemented, as well as early retirement buyouts and work reduction allowances. In order to cut $100 million from the school’s $800 million budget over the next two years, Etchemendy asked every administrative unit to submit plans for 5, 7 and 10 percent cuts.

Comments

  • Anonymous

    If only Wall Street followed this. But no, they are consumed by GREED.