As the education industry takes a hit due to the CCP virus pandemic, Ivy League schools are cutting their spending to cope with the financial stress.
Harvard University announced Monday that it would place a freeze on salaries and hiring, cancel discretionary spending, and possibly defer all capital projects. Harvard president Lawrence Bacow, who recently recovered from the CCP (Chinese Communist Party) virus, wrote in an email that he will cut his salary by 25 percent. Several other senior administrators will either reduce their salaries or contribute to a support fund for employees experiencing hardship.
