As endowment tax looms, Princeton asks departments to make plans for ‘permanent’ budget cuts, warns of potential layoffs
Princeton asked all departments and University units to prepare “separate plans for 5 percent and 10 percent permanent budget cuts to be phased in over the next three years in a memo sent Monday. Administrators warned of layoffs as the University prepares for a potential federal endowment tax, set to be debated in Congress later this week.
Princeton asked all departments and University units to prepare “separate plans for 5 percent and 10 percent permanent budget cuts to be phased in over the next three years in a memo sent Monday. Administrators warned of layoffs as the University prepares for a potential federal endowment tax, set to be debated in Congress later this week.