Well, I guess The Notorious B.I.G. was wrong. At least recently… As I’m sure you all know, the economy is officially in a recession. The federal government is bailing out American automakers, and even countries like Canada are getting in on the bailout action. Want to know something that is apparently recession proof? (Hint: it isn’t our endowment.) Alcohol. People will tend to buy cheaper alcohol instead of the pricier stuff during hard economic times. (Bros, can you go cheaper than natty light? Water?)
How does this economic situation affect RPI? Well, according to the email that Dr. Jackson sent out to the Rensselaer Community:
… we have determined that it will not be possible to reduce the budget sufficiently without reducing our recurring compensation expenses, which make up half of the Institute’s operating budget. Staffing reductions will be necessary. We would prefer to rely on attrition, but it will not be adequate to meet our financial objectives. Each vice president and portfolio owner has examined their respective operations for reductions in staff, in a way that will enable greater efficiency, improved performance, and elimination of redundancy.
We will manage the required staffing reductions as compassionately as possible…
At least they’re firing people compassionately?! The institute laid off 98 employees this past week. No faculty positions are expected to be cut though, so that’s (relatively) good news for us students. But I can’t imagine being laid off right before the holidays. I would have hoped that RPI would have valued their employees a bit more to find the money in other places.
The biggest thing that I wish for in this situation is more information. I don’t know how many students know about this since most of us have headed home for winter break. The school has said very little publicly about the matter. This leaves us to look in the paper and read other blogs for information? The real way to combat any rumors is open communication. At least then we can all hopefully understand the reasoning behind the decisions.
Hopefully this will be the last that the economy hurts the RPI community. I’d like to not get forwarded another email in the coming months saying that some professors are being let go “compassionately.”
Our hearts go out to the those who have been affected by this situation during the holiday season.
EDIT 12/28: A number of facebook groups have spring up voicing concern with the issue.
Full email below.
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economy, employees, layoffs
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