Harvard Endowment Says ‘You’re Fired’ to 57 Staffers

Harvard University’s endowment plans to lay off 57 people beginning in April as it seeks to cut its 230-person staff in half this year.

Source: Harvard Endowment to Lay Off 57 Staffers as Overhaul Begins – Bloomberg

“Harvard, with a $35.7 billion endowment, has trailed peers in investment performance in the last decade. The management company, which has grappled with leadership turnover, produced an annual average return of 5.7 percent in the 10 years through June 30, among the worst in the Ivy League.”

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