Harvard University to cut 275 jobs

Wayne — Tue, 23 Jun 2009 19:44:20 +0000

Harvard University announced 275 job cut on Tuesday as a consequence of the declining endowment triggered by the financial crisis, as the media reports. Harvard’s endowment, the nation’s largest, which was $37 billion on June 30 last year, shrunk to $29 billion by December, and projected to end this month at about $25 billion. This is believed to be affected by the loss of the top investors, including Marc Seidner very recently. The endowment funded about one third of the Harvard’s operating budget. Harvard University also will reduce the working hours of 40 other employees.

Students against education reforms in Germany

Wayne — Mon, 22 Jun 2009 19:19:24 +0000

Last week, more than 10,000 student demonstrated in about 70 cities around Germany to call for improved school condition and funding.

After several federal states started to abandon the ‘free tuition’ policy, the conflict began to elevate. Students have to pay at least 500 euro each semester. It is not a small amount of money for ordinary German citizens.

Another reason is that Germany employs the new ‘bachelor+master’ study system instead of the traditional ‘diploma’ system. The new system is in accordance with the Bologna process, which is signed by 46 European countries. In the past, most German university students graduate with a ‘diploma’ degree, which is equivalent to the ‘master’ in other countries. It is relatively easy to find a job with the ‘diploma’ degree. With the new system, more students earn a bachelor degree and go for a job. Now the economic recession hits the job market, and bachelor students seem not to be able to find a good job. Thus, students want the old system back.

koobe def: » funding

Harvard University to cut 275 jobs

Students against education reforms in Germany