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.
Construction Underway for Economics Department’s Pritzker Hall
Professors in the department said they hope the new space, which is expected to open in December 2027, will provide a much needed upgrade and allow more collaboration between students and professors.
Grad Union Stands to Make More Than $1 Million in Annual Dues if Agency Shop Proposal Passes
When Harvard removed more than 900 students from the graduate student union’s bargaining unit in July, the union lost not just 450 official members, but $20,000 in monthly union fees.
HHS Takes Steps Toward Revoking Harvard’s Access to Federal Grants and Contracts
The Trump administration launched proceedings on Monday that could bar Harvard from doing business with the federal government, opening a new front in its escalating fight with the University just weeks after a federal judge ordered $2.7 billion in frozen research funding restored.
Penny Pritzker Says She Has ‘Absolutely No Idea’ How Trump Talks Will Conclude
Harvard Corporation senior fellow Penny S. Pritzker ’81 said on Sunday that the Trump administration had pushed for a $500 million settlement to resolve its six-month standoff with the University — but cast doubt on whether Harvard was considering the sum.
6 Months Behind Schedule, Harvard Endowment’s Annual Climate Report Is Nowhere to be Seen
Harvard Management Company has not published its annual climate report six months after its expected release, and officials won’t say whether Harvard will continue providing annual updates on its progress in achieving net-zero endowment emissions by 2050.
Education Department Puts Harvard Under Financial Monitoring, Saying Federal Investigations Create Risk
The Education Department put Harvard under heightened financial oversight on Friday, saying its finances are unstable as a result of the Trump administration’s own penalties.
Harvard Medical School to Cut 20 Percent of Research Spending, Dean Says in Annual Address
Harvard Medical School Dean George Q. Daley ’82 said the University’s central administration had instructed him to cut spending on the Medical School’s research enterprise by at least 20 percent by the end of the fiscal year in his annual State of the School address Wednesday morning.
Harvard’s Austerity Measures Put Library Renovations on Hold
Harvard has paused plans to renovate four University libraries ahead of its 400th anniversary in 2036 as part of a temporary halt to capital projects amid an ongoing fight with the White House over federal funding.
Beyond the Lab: Trump’s Funding Cuts Hit Humanities Research at Harvard
A database with pigment analysis of more than 300 Asian paintings. The authoritative dictionary of the Latin language, curated since the 1890s and spanning 1,200 years of inscriptions. A library of translated Ukrainian literature, launched just before Russia’s invasion of Ukraine.
Memorial Church Reduces Programming Amid University Budget Cuts
Memorial Church will limit its student programs and public events as a result of University-wide budget cuts, according to Memorial Church Pusey Minister Matthew Ichihashi Potts.