University Finances
Harvard Technology Services Lays Off Dozens of Workers, Citing ‘Financial Challenges’
Harvard laid off 38 information technology workers last week in its latest cost-cutting measure as the University faces extended financial uncertainty.
Harvard Rolls Back Wage Freeze for Custodian Union
Harvard walked back a wage freeze and slightly raised compensation offers to custodians in a contract proposal on Wednesday in bargaining with the Service Employees International Union 32BJ.
HDS Adopts New Mission Statement After Yearlong Strategic Planning Process
Harvard Divinity School began operating under a new mission statement last month for the first time since 2008 — the only concrete change immediately resulting from a yearlong strategic planning process that took place as the school warned of rising pressure on its budget.
HMS To Temporarily Close Countway Cafe Ahead of 2026 Reopening as Fully Self-Service Operation
Harvard Medical School will temporarily close the Countway Connection cafe in mid-December due to “operating costs” far exceeding its revenue, HMS spokesperson Laura DeCoste confirmed on Monday.
Harvard Dental Center To Lay Off Staff After Closing Cambridge Clinic
The Harvard School of Dental Medicine will lay off staff in the Harvard Dental Center following its decision to permanently close its clinic location in Cambridge.
Harvard Faculty Question Whether Steep Ph.D. Cuts Are Necessary
Some Harvard faculty said they were frustrated with the recent reductions in Ph.D. admission numbers at the Faculty of Arts and Sciences, even as some accepted the cuts as a difficult but necessary step for the University's finances.
Harvard Proposes Yearlong Wage Freeze to Custodians Amid Financial Headwinds
Harvard proposed freezing custodian wages for the next year in a contract proposal to their union on Thursday to try to cut labor costs across worker groups as it navigates financial uncertainty.
Harvard’s FAS Is Running a $365 Million Structural Deficit. The Problems Started Well Before Trump.
Underlying financial weaknesses set Harvard’s Faculty of Arts and Sciences on the path toward its estimated $365 million structural deficit, even before the Trump administration pushed its finances to a breaking point, according to projections presented by a faculty committee on Tuesday.
Harvard’s Faculty of Arts and Sciences Runs a $350 Million Structural Deficit
Harvard’s Faculty of Arts and Sciences is running an estimated structural deficit of approximately $350 million, a major shortfall that will require a dramatic reworking of its budget, FAS Dean Hopi E. Hoekstra announced in an email to affiliates Tuesday afternoon.
Harvard Continues Record Spending on Lobbying in Third Quarter of 2025
Harvard spent $220,000 lobbying the federal government between July and September, continuing a year-long surge in federal advocacy spending as the University faces sustained financial threats from Washington, according to disclosures filed last week.
Harvard Lays Off Student Advisers and Lecturers in SEAS Cuts
Nearly a dozen positions that directly support students were among those eliminated in a sweeping round of layoffs at Harvard’s School of Engineering and Applied Sciences earlier this month, according to a document obtained by The Crimson.
Harvard Reports First Deficit Since Pandemic in Fiscal Year 2025, Sees 12% Endowment Growth
Harvard reported an operating loss of $113 million — its first budget deficit since 2020 — as its financial footing shakes from disruptions to federal funding, even as the total value of its endowment grew by 11.9 percent to $56.9 billion, according to its fiscal year 2025 financial report.
Current-Use Donations to Harvard Hit Record $629 Million in Fiscal Year 2025
Harvard received a record-breaking $629 million in current-use donations during fiscal year 2025, representing a 19 percent increase from last year and the largest total in University history, according to the annual financial report released on Thursday.
A Majority of Frozen Federal Funding Has Been Restored, Harvard Says
Harvard has now received payments on the majority of funding that it lost since the Trump administration froze its access to federal grants this spring, the University notified faculty this month.
Harvard’s School of Engineering and Applied Sciences Lays Off 25% of HUCTW Staff
Harvard will lay off roughly 25 percent of staff represented by its clerical and technical workers’ union at the School of Engineering and Applied Sciences and reorganize several offices in response to mounting funding pressures, according to the union.
