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Johns Hopkins to Cut More Than 2k Workers Funded by Federal Aid
- deleted 2y ago[deleted]
- insane_dreamer 2y agoJHU is getting hit the worst, but Columbia will soon follow, and others. Dark days for science. But fear not! we'll all reap the benefits of a reduced tax rate for top earners and corporations, thanks to trickle down economics, right?
- ungreased0675 2y agoJohns Hopkins has a $10.5 billion endowment. It shouldn’t be about the money.
- vFunct 2y agoA $10.5 billion endowment is good for about $250 million in annual funding. That’s not a lot.
- pmags 2y agoThis is a dumb statement posted time and again on HN... Universities are legally obligated to spend endowment money according to the terms set by the funders (https://www.investopedia.com/terms/e/endowment.asp https://www.investopedia.com/terms/e/endowment.asp). Unrestricted endowment is typically a tiny percentage of most universities endowments. Shortfalls of $800M a year would run down even large endowments to near zero in 10-15 years.
- lightbendover 2y ago[dead]
- vFunct 2y ago[flagged]
- dekhn 2y agoYou could probably reword this to be a bit more tactful.
- vFunct 2y agoIt was stated to make the core problem clear. You really shouldn’t hide that. Say the difficult thing and go from there.
- catlover76 2y ago[dead]
- pmags 2y agoThe first economic victims of the Trump administrations dystopian policies are blue collar workers. In addition to the domestic workers mentioned in the article (e.g. the folks who regularly clean office and labs), many major universities have now put a freeze on capital spending including building and renovations. This is going to hit tradespeople and contractors hard and the economic ripples are going to be felt state and countrywide. Many states will be looking at an annual economic loss of billions of dollars. Couple that with the impact of stupid tariffs and it all seems tailor made to drive the country into recession...