To lessen its financial problems, Yale is cutting staff, freezing salaries for deans and officers, reducing the number of graduate students, and perhaps the most drastic of all – turning down all thermostats to 68 degrees, according to NYT.
Their endowment took a big hit during the financial crisis, dropping from $22.9 billion in 2008 to $16.3 billion last June.
The school announced in a memo to staff that it will be taking the above steps to close a remaining $150 million budget gap.
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