Posted on 08/06/2025 12:10:47 PM PDT by Oldeconomybuyer
Stanford University is laying off more than 300 workers, according to a California Employment Development Department filing documents. In a Thursday update on the university’s financial issues, Stanford said the layoffs were in response to new Trump administration rules affecting Stanford's budget.
Stanford University cited “ongoing economic uncertainty,” looming federal cuts and rising operational costs as the reasons for the staffing cuts.
The university’s endowment tax was bumped up from 1.4% to 8% after President Donald Trump’s “One Big Beautiful Bill” was signed into law. In an email to the Stanford Daily, Luisa Rapport, a university spokesperson, said an increase in the tax is expected to reduce funds for financial aid, prospective students, faculty, graduate students and research programs. Stanford has also been a target of anti-diversity, equity and inclusion investigations from the Trump administration, along with UC Berkeley, UCLA and UC Irvine.
(Excerpt) Read more at sfgate.com ...
What in the bleep does their endowment money go towards then?! Likely beats the GDP of a plethora of countries. 🙄
More good news!
Oh darn. Learn to code.
WINNING!!!!!!
They could probably cut 100% administrators and no one would even know the difference.
After 50 years of unchecked growth, the debt-fed, government-supported, expensive, bloated, woke education-industrial complex was due for a reckoning.
And by the way, go back to being the “Indians”.
As of August 2024, their endowment was $34.6 BILLION.
Or at least add an “s” to Cardinal like Louisville. There is no shame in it. They are a feisty bird.
“Dot” or “feather”? 🤔😳👍
Yeah, Stanford started this PC name-changing crap.
Now hang on a second Stanford people...it could be related to AI, amirite?
Stanford has an ENDOWMENT of $37,600,000,000.00!
As long as WE(Taxpayers) paid their salaries it was okay. Now that We are NOT the heartless leadership let’s folks go.
How “Capitalist” of them.
“Stanford University, hit with mass layoffs....”
_____________________________________________________
My heart is broken for these people. /s
Pity party time!
Stanford University has almost 25,000 employees, so 300 is 1.2%; hardly “a mass layoff” ... just more molehills the fake stream media is trying to bulldoze into mountains ...
” Luisa Rapport, a university spokesperson, said an increase in the tax is expected to reduce funds for financial aid, prospective students, faculty, graduate students and research programs.”
What about cuts to administration?
They'll carve lots of layers before they get to administrators
Leland Stanford and wife visited Harvard Univerity and offered to provide a large endowment. Leland was given short shrift; he returned to California and founded Leland Standford Jr. College in memory of a son lost to disease.
If they kept those people and paid them $100k a year. Thats $30 million. At 4% interest on $37 billion, Stanford would earn $1.4 billion a year. Doesn’t even crack 1%.
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