USC's interim president, Beong-Soo Kim, announced a budget deficit exceeding $200 million, leading to layoffs and financial austerity measures. Significant shifts in federal support, especially cuts in grants due to the Trump administration, have contributed to the challenging financial situation. Additionally, potential decreases in international student enrollment have compounded the issue. USC's expenses have outpaced revenue for several years, leading to a hiring freeze earlier this year. Kim emphasized that layoffs and selling unused properties are among the actions needed to address the financial challenges at USC.
USC is experiencing significant shifts in federal support for its research and other programs - a product of the Trump administration's sweeping effort to cut billions of dollars in grants.
Kim said that by the end of the fiscal year that concluded in June, the university's deficit had mushroomed to more than $200 million, a notable increase from $158 million a year earlier.
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