Stanford Business School Lays Off 12 Percent

Also, the athletic department expects a $5 million shortfall and is searching for ways to cut back.

By + More

Various parts of Stanford are cutting back in order to get the school's budgets in line with shrinking revenue.

The Stanford Graduate School of Business is implementing across-the-board cuts and reducing its workforce by about 12 percent, the Stanford Daily reports. The GSB predicts a $15 million shortfall, 10 percent of its total budget. Forty-nine staffers were laid off, eight were put on a reduced schedule, and 12 temporary positions were eliminated. Other expenses—such as travel, food, library services, printing, and marketing—were cut off.

Meanwhile, Stanford athletics expects to lose $5 million in revenue, and officials are discussing ways to increase cash flow or decrease spending, the San Jose Mercury News reports. First in the line of tactics: limiting travel and charging for parking at football games. Worst-case scenario: cutting sports and coaches.