Yale College trims workforce by 7.5%: What you need to know about the US endowment tax impact
Yale College will reduce its staff by about 7.5 percent, or roughly 20 positions, amid budget pressures triggered by a higher federal tax on endowment income, the Yale Daily News reported. Dean Pericles Lewis said most reductions stem from attrition and unfilled vacancies rather than layoffs. The move follows a hiring pause, spending cuts and retirement incentives as Yale recalibrates its $80 million operating budget while protecting financial aid commitments.
Yale College will reduce its staff by about 7.5 percent, or roughly 20 positions, amid budget pressures triggered by a higher federal tax on endowment income, the Yale Daily News reported. Dean Pericles Lewis said most reductions stem from attrition and unfilled vacancies rather than layoffs. The move follows a hiring pause, spending cuts and retirement incentives as Yale recalibrates its $80 million operating budget while protecting financial aid commitments.
