In July, several wealthy institutions implemented substantial workforce reductions due to federal funding challenges, political uncertainties, and rising operational costs. Despite these cuts, many smaller colleges, facing declining enrollment and lower state support, did not execute similarly drastic layoffs. For instance, Temple University laid off 50 employees while reducing a $60 million budget deficit to $27 million. Michigan State University, despite its large endowment, cut nearly 100 jobs related to federal grant funding losses. These trends reflect broader economic pressures within the higher education sector.
"Temple University laid off 50 employees and eliminated more than 100 vacancies in July, addressing a projected budget deficit as high as $60 million."
"Michigan State University cut nearly 100 jobs in July due to a loss of federal grant funding, despite having an endowment over $4.4 billion."
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