In response to financial pressures and investigations by the Trump administration, USC has implemented a series of austerity measures including a hiring freeze. The university highlighted the need for financial resilience due to impending cuts in federal funding, which are critical for research and academic programs. After reporting a budget deficit of $158 million, the administration seeks to reassess spending strategies and protect essential operations amid scrutiny related to allegations of antisemitism during protests on campus.
"Recent developments require us to take additional steps to increase our financial resilience in the face of exceptional financial uncertainty," said the letter, which noted that USC received about $570 million in research funding in fiscal year 2024.
The belt-tightening plan, effective immediately, comes just months after an internal financial planning task force said in November that USC's $158-million budget deficit required various 'cost containment measures.'
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